LESSONS 

POLITICAL ECONOMY: 



DESIGNED AS A 



BASIS FOR INSTRUCTM m THAT SCIENCE 



IN 



SCHOOLS AND OOLIaEaES. 



By J. T. OHAMPLIN, 
/«• ■ . . 

PBKSISENT OF OOLUT UNIYBBSITT. 



A„ S. BARNES & COMPANY, 

NEW YORK, CHICAGO and NEW ORLiiJAxsC. 
1875. 



Hf. 



C4 



I r> t- 



emttto, accflramg to Act of Congress, In the year 1808, bjr . 
J. T. OH AM PL IN, ' 

b tlM Clerk's Office of the District Coart of the United States for the Distrlflt 
of Mttine. 



AUGl'9 1941 



PREFACE. -^ 



iIThe title-page explains the object of this little 

;]ok. It is called " Lessons on Political Econ- 

|y," to intimate that it treats the science famil- 

ly, and does not pretend to treat it exhaustively. 

is designed as a "basis for instruction in the 

nee," on which the teacher may rear a more 

ess elaborate superstructure according to his 

tastes and inclinations, or the condition and 

ts of his classes. It is prepared for " schools'', 

'veil as "colleges," because the author believe. 

a science so practical and so essential to all 

ses of society should be more generally studied 

iUr schools. There is nothing in the principles 

e science, when clearly and simply set forth, 

places political economy above the compre- 

\ion and mastery of the average of scholars 

)ur academies and high schools. Indeed, its 

iciples are singularly simple and exact, all flow- 

ifrom a single postulate of human nature, " that 



,../ 



PBEFAOB. \f, 

men will always obtain what they want by the leas 
amount of irksome labor or its products.' 

The terrible civil war, which we have late! 
passed through, necessitating the raising of vas 
revenues to sustain the government, has imparte 
new interest to the science, and particularly / 
that part of it which pertains to finance — ^whic 
is, indeed, the whole science in epitome. Such 
time seems favorable for the further introductic 
of so important a study into our course of popul 
instruction. If these "Lessons" shall tend to pr 
mote such a result, they will answer one importa' 
end for which they have been prepared. At t 
same time, it is hoped that they will not be fou 
inadequate to the wants of college classes, lii 
leKeved that they contain ah the fundamental pri 
pies of the science, and aU, indeed, that are | 
quired in a general course of education. Sul( 
dinate principles and details can be added by I 
teacher; but, if the principles here presented j 
thoroughly, mastered, the student will have a cd 
petent knowledge of the science for all ordin? 
purposes. ^ . 

Watervillb, Ma/r(^h, 1868. 



COTsTTENTS. 



LESSON I. PAW 
Definition and Divisions of the Subject 7 

LESSON IL 
Wealth 16 

LESSON IIL 
Means of Creating Wealth 23 



1 LESSON IV. 
\ Value, Cost, Price 30 

LESSON V 
Capital AND its Forms 40 

i 

I LESSON VI. 
J ]^ QpiBMS AND Results ( 47 



r 



LESSON VII. • ' 
Division of Labor and its Effects 54 

LESSON VIII. 
Aid to Production from Natural Agents 63 

LESSON IX. 
Stimulants to Labor 71 



VI CONTENTS. 



y^ LESSON X. pagk 
^-B^DENS ON Labob (Taxes). 83 

LESSON XI. 
Profitable and Unprofitable Labor 93 



LESSON XII. 
Business .100 

LESSON xm. 

Exchange 109 

LESSON XIV. 
Money, Metallic and Paper 131 

LESSON XV. 
Banks and Banking... 134 

LESSON XVI. 
Credit 148 

LESSON XVII. 
Finance 155 

LESSON xvin. 
Interest 166 

* ' ' LESSON XIX. 
Land and Eent 175 

LESSON XX. 
Profit and Wages 183 



LESSON I. 

DEFINITION AND DIVISIONS OF THE SUBJECT. 

1. Political Economy Defined. — Political Ecou" 
omy, strictly speaking, is state-economy as opposed 
to family-economy or individual economy. Coming 
down to us from a former age, the term embodies 
an idea of tliat age; that the state is above the 
individual — is, indeed, his responsible guardian and 
provider. And, although this idea is now being 
rapidly displaced by a truer one, yet the term 
remains, but with a corresponding change in its 
meaning. Political economy, therefore, no longer 
includes merely those general laws of economy 
which are appHcable to the management of states 
and the raising of state revenues, but those which 
are applicable to the management of private affairs 
as well. Economy leads to wealth, and hence 
pohtical economy may be defined as the science 
of wealth, whether national or individual. 



8 POLITICAL ECONOMY. 

2. The Fouk Divisions under which it is usually 
Teeated. — Wealth is any thing appropriated by labor 
or discovery which contributes to our loealf or which 
gratifies a desire. But in order to gratify our 
desires, objects must be brought into relation with 
some of our senses, and in various ways be prepared 
to please them. In doing this, it is necessary to 
change not only their place, but generally their form 
also. In short, there must be production and 
consumption, exchange and distribution. Political 
economy is commonly treated under these four 
divisions. It is not proposed, however, in these 
" Lessons," to treat the subject formally under these 
divisions, but rather to develop tbe general princi- 
ples of the science, without regard to the usual 
divisions and subdivisions. 

3. Of Pboduotion. — ^Any change effected in an 
object, by which it is rendered in any way better 
adapted to gratify human desire, is called Pro- 
duction. "We do not produce the objects themselves 
nor their qualities. These are furnished ready to 
our hands by nature. We can only modify or 



DEFINITION AND DIVISIONS. 9 

change these objects, or by certain contrivances 
render their qnahties available for meeting our 
wants and serving us in various ways. All such 
modifications are called production, and the modi- 
fied objects are caUed products. Thus, by the use 
of our various powers, we can bring iron ore into 
such relations with other objects, and so subject it 
to their action, as to produce a thousand articles 
of use, and make it subserve our interests and wants 
in innumerable ways which it was not originally 
capable of doing. Yet the original susceptibility 
of all these changes was in the ore before it was 
taken from its native bed. In all the various forms' 
into which iron is wrought, its native properties 
have only been modified by combination or inter- 
action with the qualities of other objects, through 
the intervention of the agency of man. And the 
same is true in other cases. 

4. Of Consumption in a Genebal Sjense.— Con- 
sumption is the opposite of production. In its most 
general sense, it is the destruction of any quality in 
an object which fits it for human use in that form. 



10 POLITICAL ECONOMY. 

Thus tlie grinding of wheat is the destruction of 
that quality in it which fits it for use as seed, for 
malting, etc. But at. the same time, this very 
process of grinding is a species of production, — ^the 
production of flour. Hence, from different points of 
view, it may be called either consumption or pro- 
duction. Indeed, all production necessarily involves 
consum]|;/Cion. Production, as we have seen, is 
effected only through some change in an object, and 
consequently must destroy the utihty which that 
object had under its previous form. So, on the 
contrary, does all consumption involve jDroduction. 
Nothing is absolutely destroyed. What disappears 
under one form reappears under another. Even the 
food which we consume reappears in the various 
tissues of the body, producing increased Hfe and 
energy. But though nothing can be absolutely 
destroyed, much may be wasted. There is always a 
waste where the product is of less value than the 
utility consumed ; as in the idle display of fire- 
works, or the consumption of powder and shot in 
shooting into the air. This kind of consumption, 
therefore, is called unproductive consumption. 



DEFINITION AND DIVISIONS. 11 

5. Of Consumption Pboper.— Thus, production 
and consumption, though opposite in their nature, 
mutually imply each other. Indeed, they are only 
different sides of the same process. In this general 
sense, therefore, the distinction between production 
and consumption seems unimportant. Yet there is, 
in a certain sense, a final use for every object, and 
when put to that use it may be said in a higher 
sense to be consumed. Thus, the grass reaches its 
final use when eaten by the ox, and wheat when 
eaten by man. They may each pass through 
various intermediate processes, which may be called 
indifferently production or consumption ; but when 
they pass through the process of mastication, they 
are then properly consumed. Though they still 
reappear under another form, yet that form is so 
entirely different from the preceding, that they are 
no longer recognized as the same objects; indeed, 
they are not the same. Flour may be recognized as 
wheat pulverized, and cloth as wool spun and 
woven ; but when the one is eaten and the other 
worn out, they have entirely lost their identity. 



12 POLITICAL ECONOMY. 

Thus consumption proper is putting things to their 
final use. 

6. Of Exchange. — Exchange is trading off articles 
which any one has for those which another has. 
"When the exchange is direct between the articles 
themselves, it is called exchange in Icind, or barter ; ■ 
but when the article is exchanged for money, it is 
called a sale. But articles in order to be exchanged 
must be produced in market. Hence transportation 
may be considered as a part of exchange. As our 
wants are many, and each individual can conven- 
iently produce only a limited number of articles, 
all are naturally in quest of other articles for which 
they may exchange the surplus of what they have 
produced. Thus there is an ever-active and cease- 
less exchange of products going on all over the 
world, and increasing with the progress of civili- 
zation. 

7. Of Distribution. — ^Where one performs his 
own work with his own hands and tools, there is no 
occasion for any distribution of the products or 
their value ; they all belong to the individual 



DEFINITION AND DIVISIONS 



13 



laborer. But most kinds of production require tlie 
co-operation of several persons and of various in- 
strumentalities ; ^.e., of labor and capital. In sucli 
a case there must always be a distribution of the 
results or products. Capital may be said in general 
to consist of money, of land, of instruments of labor, 
and means of support and comfort. Whoever fur- 
nishes any or aU of these in carrying on any pro- 
ductive process, contributes largely to the result, 
and is entitled, therefore, to an equitable proportion 
of it. The laborer, also, must have his share. Cap- 
ital can not move itseK : it requires the co-opera- 
tion of labor. And even where food, clothing, and 
shelter are furnished the laborer, he may fairly 
claim some further remuneration to provide for his 
wants in sickness, old age, etc. Now, it is the ob- 
ject of political economy, under this division of the 
subject, to point out the principles of an equitable 
division of the results of production in all such 
cases. 

8. The Pkinciple of Hitman Natube on which 
THE Science is Founded. — Political economy as- 



14 POLITICAL ECONOMT. 

sumes as its basis in human nature that men in 
their business affairs are governed by selfishness; 
that every man will aim so to dispose of his labor 
and its products as to promote in the highest degree 
the objects of his desire, and will endeavor to attain 
any end with the least possible amount of irksome 
labor. Upon this principle, which is most unques- 
tionably true, the whole science is built. From it 
follow the laws of value and price, and on it rest 
our whole monetary and industrial fabric. Thus, 
though many ethical principles may be defended on 
economical grounds, — as, when we say that honesty 
is the best policy, — and many economic principles 
on ethical grounds ; yet Ethics and Political Econ- 
omy are essentially distinct sciences. Ethics treats 
of right. Political Economy of gain. Ethics lays 
down the rules of conduct in our intercourse with 
others which are dictated by an enlightened sense 
of duty ; Political Economy, the rules of action, 
dictated by an enhghtened self-love. Ethics re- 
gards the good of others; political economy our 
own good alone, but always within the limits of the 
rights of others. Hence it can not be expected 



DEFINITION AND DIVISIONS. 15 

that business will be conducted upon benevolent 
principles, though it should always be conducted 
upon honest principles. And yet, a man may all the 
time have a benevolent purpose in acquiring his- 
property — meaning to use it, and actually using it, 
as he goes along, for the good of his race — and may 
thus be truly a benevolent man. 



lESSON II. 

WEALTH. 

1. Wealth Defined. — As already stated, wealth is 
anything costing labor which contributes to the grati- 
fication of any of our desires. Wealth is any arti- 
cle of value, or what avails us for any purpose or 
use. And the real value of an article of wealth — 
what is commonly called its intrinsic value — de- 
pends entirely upon the nature and urgency of the 
desire which it is fitted to gratify. The foundatioi\ 
of wealth, therefore, lies partly in the nature of 
objects and partly in the nature of man. There is 
a world without and a world within, and wealth is 
the result of the correspondence between these two 
worlds. No variety or kind of quahties in an object 
would constitute it an article of wealth, without de- 
sires in man which they are fitted to gratify. But 
man having various desires and wants, and objects- 



WEALTH. 17 

around ns haying qualities adapted to gratify tliem, 
these objects are capable of becoming articles of 
wealth, with every degree of value, from the highest 
to the lowest. And not only natural objects of ma- 
terial growth may constitute articles of wealth, but 
those of spiritual growth also, such as a sermon, a 
plea, advice, instruction, etc., which are produced 
by the natural organs under the inspiration of the 
spirit within. 

2. Eeal "Wealth.— Eeal wealth consists of those 
articles which gratify our better desires, and thus 
promote our real good. Certain desires of our na- 
ture are reasonable and good. They are approved 
by our conscience, and lead to right results. Expe- 
rience shows that they tend to our true happiness, 
while they do not lead to any interference with the 
rights or happiness of others. Besides the desires 
which prompt us to obtain the means of subsistence 
and comfort, this class of desires embraces also 
those which lead to our intellectual, social, and 
moral improvement. Thus, good instruction, a 
good book, a profitable social entertainment, a good 



18 POLITICAL ECONOMY. 

lecture, or a good sermon, may be as truly valuable 
to us as a good farm, a good note, a good coat, or a 
good dinner. However, since life is necessary in 
order to tbe enjoyment of any tiling else, those 
objects whicb are essential to our existence are tbe 
most fundamental articles of wealtli. And if it be 
considered tbe true end of life to become ricb, then 
all desires which tend to divert or retard one in the 
pursuit of riches, i.e., mere material wealth, are hurt- 
ful. But if material wealth be only a means to a 
higher intellectual and moral wealth, then our intel- 
lectual and moral cravings are the highest desires of 
our nature, and the means of gratifying them the 
highest form of wealth. And besides, iuteUigence 
and moral principle render men more efficient even 
as producers of material wealth. 

3. Costly Wealth. — ^The mere money-maker con- 
siders every form of wealth which is not tangible, 
and can only be seen and enjoyed without leaving 
any material result, as costly — as " costing more 
than it comes to." In his view, knowledge is wealth 
only as it enables its possessor to acquire more ma- 



WEALTH.' 19 

terial objects of value. And so of social and moral 
improvement. But if there be a love of knowledge 
and improvement in themselves, these being human 
desires, whatever gratifies them must be regarded 
as objects of wealth. Hence, objects which are 
merely seen, or heard, or smelled, may be articles of 
wealth. ."We have other senses besides taste and 
touch, and whatever gratifies these is, to this extent, 
an object of value to us. Hence music, perfumery, 
pleasing and profitable shows, may be considered as 
forms of wealth. So, also, may diamonds, pearls, 
and other rare and costly ornaments. The very fact 
that they are so eagerly sought and so complacently 
worn shows that they gratify a desire — some call ifc 
taste, and some vanity. Such objects, then, have a 
value, but are too costly for any except persons of 
large means. A rational view of the various forms 
of wealth would lead one to the appropriation of 
necessaries first, then of conveniences, then of 
comforts, and last of all, of luxuries. While 
luxuries, and all other means of mere gratification 
which do not contribute in some way to our 
efficiency for further production, are, economically 



20 POLITICAL ECONOMY. 

speaking, so mucli wasted, still, the desire of pos- 
sessiQg such means of gratification is one of the 
most powerful motives to production. 

4. HuETFUL POEMS OF Wealth. — ^As experience 
shows us that some of our desires are hurtful in 
their tendency, objects which furnish the gratifica- 
tion craved by such desires must be considered as 
hurtful. The true conception of man, from a po- 
litico-economic point of view, is as a power — a 
power to work in various directions. "Whatever, 
therefore, tends to diminish this power is injurious. 
Now, it is well known that the gratification of 
certain desires is enervating. Such is the in- 
dulgence in strong drink, in excessive eating, in 
debauchery, and in exciting sports, which exhaust 
the energies. Other indulgences involve a loss 
of time, and cultivate, also, idle and frivolous habits 
which demoralize and unman the individual; such 
as gambhng, idle and foohsh conversation, and 
roving from place to place without any useful object 
in view. All such indulgences are injurious, and the 
objects which furnish the means of our thus in- 



WEALTH. 21 

dulging ourselves, though embraced in the general 
definition of wealth, are all hurtful, at least when 
thus used in excess. Desire, being in itself blind, 
makes no distinction between gratifications; but 
reason distinguishes the wholesome from the hurt- 
ful, and it is the duty of the moraHst and the states- 
man to commend the one and condemn the other. 

5. HOAKDING AND UsiNG WEALTH. — ^Wealth is 

usually hoarded in the form of money — of gold and 
silver. Many persons are so fearful of losing their 
property that they turn it into money and keep it 
under their own eye. Distrusting everybody but 
themselves, they will not trust their money for a 
moment out of their own hands. It thus ceases to 
be wealth to them, as it does not contribute in any 
way to their happiness, or gratify any desire, except 
it be the pure love of money. Perhaps the miser 
does really love the sight and the ring of dollars, 
and in this sense his hoarded wealth may be 
said to gratify him. But money, like all other 
forms of wealth, is designed for use. And one uses 
his wealth when he employs it either in satisfying 



22 POLITICAL ECONOMY. 

his own and others' wants, or in uniting it with 
industry in order to create stiU greater wealth." 
Wealth is of no avail to its possessor unless he so 
uses it as to make it contribute to his rational en- 
joyment and improvement. Nor is it of any avail 
to others unless it is devoted in some way to their 
good, or made to employ their industry in changing 
it into other forms of wealth, and thus increasing its 
value. Hoarded wealth is of no advantage to any 
one. 



LESSON III. . 

means of ceeating wealth. 

1. The Mateeials eoe Wealth aee all Fue- 
NiSHED BY Natuee.— As already stated, we can 
create nothing. The materials npon which we are 
to work are all given in nature. We may work 
npon these materials, with them, and by them, but 
we can do nothing toward creating wealth without 
them. These materials are as various as the objects 
of nature. There is scarcely an object accessible to 
us, or a property of an object, or a law of nature, 
but is capable of being made, in some way, to sub- 
serve the wants or interests of man. With the 
progress of the race, more and more objects are 
continually pressed into our service. Every suc- 
ceeding generation is served effectively by numerous 
objects and agents of nature which the preceding 
generation considered useless, or even nuisances. 



24 POLITICAL ECONOMY. 

It is not extrayagant, therefore, to suppose that 
before the end of time, all the accessible objects of 
nature, with all their hidden properties and laws, 
will be pressed into the service of man. Let us 
now briefly consider the nature and extent of the 
material thus inviting our labor. 

2. The Mateeials Fubnished by the Earth. 
— There is first the earth, with its numerous 
primary substances and elements, variously mixed 
and compounded into almost an infinity of objects, 
and susceptible of still further combinations, in 
ever-varying proportions, and all with widely-differ- 
ing attributes and aptitudes. And at the same 
time, the whole mass is pervaded by various subtile 
and powerful agents, or principles of action, such 
as heat, electricity, galvanism, cohesion, attraction, 
repulsion, gravitation, and the various af&nities and 
priaciples of inter-action which constitute what are 
called the laws of nature. Of these various objects 
on the surface of the earth, some are organic and 
some inorganic ; some are animate and some inani- 
mate ; some animal and some vegetable. But, on 



MEANS OF CEEATING WEALTH. 25 

the whole, the grand end of nature seems to be life 
and growth. Just as the frame-work and organs 
of our own bodies seem designed to serve the pur- 
poses of the spirit that is in them, so the frame-work 
and powers of nature seem all to conspire to the 
promotion of life and growth. "We thus have, in 
the course of nature, animals and vegetables without 
number, and almost infinite in variety, all adapted, 
either directly or indirectly, to the wants of man. 
All these, containing in themselves the principle of 
propagation, may be reared or cultivated, and vari- 
ously improved under the care of man, and form, 
either directly or when further wrought, the most 
necessary and useful articles of wealth. 

3. The Mateeials Fuenished by the Watee. — 
As a part of the earth, the great collections of ivater 
also furnish materials for wealth. I^ot only do the 
waters, hke other parts of the surface of the earth, 
teem with innumerable forms of animal and vegeta- 
ble Hfe, adapted to the wants of man, but by their 
buoyant properties and the mobility of their parti- 
cles, they furnish a medium for the easy conveyance 



26 POLITICAL ECONOMY. 

of products to the various points where they are 
wanted. " There go the ships, there is that levia- 
than, made to play therein." The sea also con- 
tains many useful ingredients and objects which 
may be extracted from it by the labor of man, as 
salt, coral, pearls, etc. ; while the leaping mountain- 
stream may be so confined and directed by the skill 
of man, as to turn the busy wheel of the factory ; 
and the sparkHng spring-water, as to propel the 
ponderous locomotive, with its precious freight 
of passengers, over its iron track. 

4. The Means of Wealth Furnished by the 
Air. — ^Even the air and the supermundane world are 
not wholly beyond the reach of, nor without fruit to, 
human industry. We may not only extract ani- 
mating and fructifying gases and influences from the 
air and light of heaven, in the processes of vegeta- 
tion and life, but make the sun paint our pictures, 
and the wind turn our mills and propel our ships. 
While, therefore, these supermundane influences 
and agents, like the other all-pervading principles 
of nature, are chiefly the great undivided possession 



MEANS OP CREATING WEALTH. 27 

of all, they may — ^but yet without diminisliiiig the 
supply to others — ^in some small measure be appro- 
priated by individuals, and made to do their work. 

5. But these Materials become Wealth only 
THROUGH THE EFFORTS OF Man. — Such are the means 
and materials for production furnished to our hands 
by nature. But these materials are all inert, and 
none of the natural agents act to any purpose with- 
out the superintendence of man. Under God, the 
moving cause to all the train of operations con- 
cerned in production is in ourselves. The powers 
of body and mind with which we are endowed con- 
stitute the grand force which sets the whole ma- 
chiQery in motion ; or, to speak more accurately, as 
the body is but the servant of the mind, and its 
apparent powers only adaptations to its use, the 
indwelhng and outworkiag spirit of man is the real 
primum mobile in production. The materials and 
means are furnished in nature, but it is the human 
spirit which really works on and by them. And 
even the 'forms of speech used in communicating 
with each other, and in instruction, discourse, etc., 



28 POLITICAL ECONOMY. 

though uttered by the bodily organs, are dictated 
by the spirit v>rifchin. 

6. What Man Does in Peodugtion.— Commencing 
with nothing but his hands, man has gone on im- 
proving his means and opportunities till he has 
brought the machinery of production to its present 
high state of efficiency. Thus the fish which are 
now caught by thousands with hooks and seineb, 
were at first caught laboriously with the hands, and 
afterward with a crooked stick or a bone ; and the 
wild animals which are now shot with a gun, or 
tamed and made to serve us, were at first pursued 
and caught, or killed with clubs and stones, and 
afterward with bows and arrows. In like manner, 
also, vegetation, which is now aided by various 
stimulating manures, and cultivated by the use of 
the most effective instruments, was formerly as- 
sisted only by such feeble aid as could be furnished 
directly by the hand ; while clothing made from the 
skins of animals or the bark of trees, has given 
place to curious fabrics wrought by the most com- 
plicated machinery from silk, wool, flax, and cotton ; 



MEANS OF CREATING WEALTH. 29 

and locomotion by the use of tlie feet, has been 
quickened by the power of the horse and the energy 
of steam. And all these improvements have been 
made by the contrivance of man. The first simple 
tools and implements were fashioned by him either 
by his hands and teeth, or by the aid of objects fur- 
nished in nature ; and these simple instruments were 
used again to fashion others more comphcated, and 
these again others, and so on. But the process was 
started originally, and has been continued at every 
step, by man. Animals and machines may be made 
to work for man, but not without his superintend- 
ence and aid. Hence, besides the numerous opera- 
tions which must always be performed literally by 
the hands, all simple tools, even after they are 
made, must be operated directly by them, and all 
machinery be started and kept in motion by their 
assistance. 



lESSON IV. 

value, cost, price. 

1. What the Eeal Yalue of Objects Consists in. 
— The real yalue of any article, or what is sometimes 
called its intrinsic value or utility, consists in what 
it avails to gratify some desire or want of our nature. 
It depends, then, wholly upon its qualities in relation 
to our desires. The*?*? qnalities may, and in most 
cases do, require some modification or preparation 
in order to fit them to gratify our desires, but the 
original capability or susceptibility of these changes 
and adaptations is in the things themselves, and can 
never be put there by man. Thus, the properties 
of edge-tools, by which they become so valuable to 
man, are only the properties of the native ore modi- 
fied and changed by the action of other natural 
objects and agents, through the intervention of maUj 
BO as to fit them for human uses. So grain is but 



VALUE, COST, PRICE. 31 

an effect drawn from the natural properties of seed, 
earth, air, sunshine, and water. And the same is 
true in other cases. These native properties of ob- 
jects are the ground of their utility, and it is the 
object of all labor to develop and prepare them 
for human use. 

2. Op Exchangeable Yalue.* — But while aU the 
real elements of value are in the objects themselves, 
and could never be put there by any amount of 
labor, still, with the exception of air, water, and 
sunlight — which are the great undivided inheritance 
of all, and hence, under ordinary circumstances, 
have no exchangeable value — ^but few if any articles, 
in their natural state and place, are directly avail- 
able to gratify human desires without some modifi- 
cation or change, either in form or place, from the 
hand of man. Being thus, in their native state, all 
equally unfitted for use, — ^but possible objects of 
value, and wholly the gift of nature, — the exchange- 

* Some writers on political economy confine the term " value* 
to what is here termed " exchangeable value ;" but I think this 
hardly exhausts the meaning of the term as commonly used. 



32 POLITICAL ECONOMY. 

able value, or markefc-value, of articles may be said 
in general to be determined by tiie amount and 
kind of labor necessary to prepare, tbem for use. 
Some objects requite more, or a more difficult kind 
of labor in tbeir preparation, and some less, and by 
this tbeir value is determined. Thus, while almost 
any clumsy workman can fashion clay into a rude 
vessel, to transform iron ore into a razor requires 
more, and more skilKul labor. Now, the amount of 
labor required to produce an article in market, or 
where it is wanted for consumption or sale, is called 
its cost, and the representative of the cost in money 
is called the prtce. "When this representative is gold 
and silver, the cost and price are substantially the 
same, since the equivalent of any article in gold and 
silver m_ust, on the average, always cost as much la- 
bor as that article ; but when it is irredeemable 
paper money, millions of which can be produced by 
a few days' labor, the cost and price vary materially. 

3. The Value of Articles Peoportionate to the 
Labor Bestowed upon them. — Of course, then, arti- 
cles of use which require more labor for their pro- 



VALUE, COST, PBICE. ' 33 

dnction must have a higlier market-value than those 
requiring less, provided the labor be of the same 
general order. A laborer would not spend three 
days in producing an article for which he should 
receive only two dollars, when he might get three 
dollars for three no more irksome days' work on 
some other article. So, too, if a coat costs six days' 
labor and a pair of boots two, a pair of boots will 
bring in market only one-third the price of a coat ; 
and if an ounce of gold can be obtained from the 
mines by the same number of days' labor by which 
the materials for a coat can be produced, manufac- 
tured, and made up, the market-value of the coat 
and the ounce of gold will be the same. But the 
market-value can never exceed the intrinsic value, 
since the use of an article wiU ahvays be foregone 
when it is more irksome to produce or obtain it than 
to be without it. 

4. The kind of Laboe to be Taken as a Unit of 
Measube. — The most natural imit of measure, there- 
fore, in determining the value of any article, is a 
day's labor, such as the average of the community 



34 POLITICAL ECONOMY. 

are capable of performiQg without any special train- 
ing, and with nothing but their hands, or the sim- 
plest tools. Other kinds of labor, as mechanical, 
manufacturing, scientific, professional, require more 
or less time and expense in the preparation and fur- 
nishing necessary for practicing them; that is to 
say, in such cases a given number of days' work and 
the price of a given number more are expended in 
the preparation, which must be regained by higher 
pay afterward. If educated labor is better remuner- 
ated than common labor, taking the preparation and 
all into the account, the tendency will be for men to 
press into this kind of labor till it is no more re- 
munerative than other kinds of labor. It is only 
the difficulty and irksomeness of such labor, includ- 
ing the preparatory labor, which render it, if it be 
so, more remunerative than common labor. 

5. Influence of Supply and Demand upon Peices. 
— ^The price of articles thus determined, in general, 
by the cost of production, i.e., by the labor bestowed 
in producing them in market, varies, however, under 
the influence of supply and demand, which, again, 



VALUE, COST, PRICE. 35 

are determined by the views and opinions of men. 
The same is true, also, of the price or wages for 
labor itself. The regular wants of each community, 
and hence of the world at large, demand a given 
supply of the various articles of necessity and com- 
fort, and consequently of the labor required in pro- 
ducing them. If, now, producers make a miscalcu- 
lation, and, from false views of what is wanted in 
any case, produce a supply of an article dispropor- 
tionate to the demand, the price of that article 
varies from the cost price accordingly, — ^being 
greater as the demand is excessive, and less as the 
supply is excessive. For, when the demand is ex- 
cessive there being more persons desiring to buy 
than to sell, they will over-bid each other, and thus 
raise the price ; while the reverse will be the case 
when the supply is excessive, i.e., the sellers will 
under-bid each other, and thus lower the price. 

6. But the Tendency of Prices is always to the 
Cost Standard. — StiU, from the inevitable tendency 
of labor, when not restrained by artificial hin- 
drances, to the most profitable employment, no 



36 POLITICAL ECONOMY. 

article can, under ordinary circumstances, long re- 
main at a relatiyely higlier price, in proportion to 
the cost of production, than other articles. Greater 
profits in any kind of production make wages higher 
in that business, and hence attract labor to it; 
while, for the same reason, labor is repelled from 
the production of articles, which are relatively lower 
than other articles, compared with the cost of pro- 
duction. Thus, ordinarily, any excess of price is 
sure to be speedily brought down by increased pro- 
duction, and any deficiency to be brought up by 
diminished production. If, for instance, the relation 
of supply and demand for fish in any market be 
such, that there is not so much profit in furnishing 
fish as in furnishing butchers' meat, labor will 
at once be diverted from the fish-market to the 
meat-market till the equilibrium is restored. And 
so in other cases. It is only ^'here the article 
requires considerable time for its production, as is the 
case v/ith grain, which can be grown only once a year, 
that its price can remain long above its relative cost 
of production. So, too, a diamond found by chance 
may be worth more than the labor expended — the 
average labor determines the price in such cases. 



VALUE, COST, PKICE. 37 

7. Effects of Sagacity on the Peofits op Labor 
— But, after all, there are always operating certain 
disturbing causes, which, in particular cases, make 
prices vary from the cost standard. The first 
of these is sagacity, or the want of it. As the want 
of sagacity often engages men in costly and un 
profitable modes of production, so, on the contrary, 
sagacity often secures to them unusu-al profits. Sa- 
gacity anticipates the new wants which are sure to 
arise in the progress of things, and devises modes 
of meeting them. It discovers new and useful 
qualities in objects, and cheap and convenient meth- 
ods of rendering them available. Hence sagacity 
always gives one a certain advantage in production, 
which often becomes very great. Thus, the savage, 
who discovers the best fishing or hunting ground, 
can produce fish or game at less than the average 
cost. So the person who gets possession of the 
best soil, or discovers useful qualities in objects 
which others do not perceive, has an advantage 
over the less fortunate. In hke manner, great and 
rare capacities for any kind of productive labor, as 
in producing wise counsels, fine paintings, and fine 
muFic, always command a large remuneration, since 



38 POLITICAL ECONOMY. 

t 

in the region to Tvhicli they rise there can be 
but little competition. 

8. Effects of Energy and Capital on the 
Profits of Labor. — ^Energy and capital, however, 
are generally necessary in order to secure the full 
advantages of sagacity. What is discovered by 
sagacity must be seized upon by energy and im- 
proved by industry and carefully husbanded re- 
sources. The best soils are usually covered with 
a heavy growth of wood to be removed, and often 
require extensive draining before they are fit for 
tillage. These obstacles can be overcome only by 
rare energy and perseverance, and the use of such 
resources as spring alone from long-continued and 
persistent frugality. And, as it is only by con- 
siderable means that the best soils are subdued^ 
so, usually, the great forces and recondite principles 
of nature, by which we are so greatly aided in pro- 
duction, are pressed into our service only through 
complicated and expensive arrangements. Thus 
sagacity, accompanied by energy and aided by 
capital, gives one a great advantage in production, 
and enables him t-o produce articles in many cases ^ 



VALUE, COST, PEICE. 39 

far below the ordinary cost price, and tence to 
make large profits in his business.. 

9. Yaeiations in Pbice. — ^The price of an article 
being its representative in money, that price, of 
course, must vary with the value of money. Even 
when the money is gold and silver, if these are 
produced in excess of the wants of the community, 
or if by new discoveries and improved processes 
the faciUties for producing them have increased 
more rapidly than the facilities for producing other 
articles of utility, the price will rise accordingly, and 
fall if the reverse be the case. The variations from 
this source, however, are but slight, and usually 
gradual ;* but where irredeemable paper money is 
the medium of circulation, the price of articles in 
this medium, as it does not derive its value from 
the cost of production, varies with the amount 
of it in circulation and the opinions of men as 
to its being ultimately redeemed and made good 
in gold and silver. 

* The annual depreciation in tlie value of gold and silver has 
never exceeded one-lialf of one per cent., either from tlie discovery 
of new mines or new processes of extracting and refining the ora 



LESSON V. , 

CAPITAL AND ITS FOEMS. 

1. Capital Defined,— Capital includes every 
thing employed in production except tlie labor. 
It thus embraces the material on which the laborer 
works, the instruments with which he works, the 
food and shelter by which he is enabled to work, 
and the results of his work, i.e., the products, 
money, etc. And, as human labor has to do only 
with things designed, either directly or indirectly, 
for the use of man, all articles of value are only 
different forms of capital. Hence capital and 
labor alone are concerned in production. On the 
one side is man, with his various powers of con- 
trivance, speech, direction, and exertion ; and on 
the other, the various materials, instrumentahties, 
and powers — -both animate and inanimate — of na- 
ture. But property unemployed in production, 
whether it be in money or any thing else, is not 
properly capital : it is only wealth. Strictly speak- 



CAPITAL AND ITS FOEMS. 41 

iug, wealth becomes capital only when employed in 
production. 

2. Kinds of Capital Employed in Peoduction. — 
Of the different kinds of capital, there is, first, the 
material upon which the laborer works, in order to 
confer upon it a greater value : such as the seed, 
manure, breeding animals, etc., of the farmer; the 
cotton, wool, iron, etc., of the manufacturer; and 
the tea, coffee, cloth, and other transportable and 
saleable articles of the merchant. Secondly, there 
are the instruments with which he works : such as 
the plows, carts, lands, and working animals of the 
farmer ; the axes, planes, hammers, factories, and 
machinery of the mechanic or .manufacturer ; and 
the warehouses, ships, wagons, and cars of the 
merchant, teamster, or public carrier. Thirdly, 
there are the food and shelter by which the health 
and strength of the laborer are maintained, and 
by which he is enabled to continue his exertions, 
and which are substantially the same with all 
classes of laborers. And lastly, there are the mature 
products of each department of industry : such as 



4:2 POLITICAL ECONOMY. 

the grain and fatted animals of the farmer; the 
cloth, tables, etc., of the manufacturer ; and the 
money and other articles for which the merchant 
has exchanged off his merchandise. 

3. Of Peoductiye Am) Unpeoductive Capital. — 
As already stated, money hoarded is of no use to 
any one. The same is true of other articles of 
wealth. Land lying waste, goods locked up in 
storehouses, machinery unemployed, and buildings 
unoccupied are all unproductive capital, or mere 
articles of wealth. Property thus situated is not 
only of no use to any one, but, from the effects of 
time and the elements, is often diminishing in value 
much faster than though it were put to some bene- 
ficial use. The true economist, therefore, always 
avoids as far as possible such a disposition of 
any part of his property. He is not satisfied if any 
part of it is unproductive, but endeavors to utilize it 
aU by keeping it in constant use. Has he gold, he 
puts it in a bank, and thus renders it useful in sup- 
plying the basis for the circulation of the bank. 
Has he goods, he keeps them always in the market, 



CAPITAL AND ITS FORMS. 43 

on sale. Or has he ships, factories, or other means 
and instrumentalities of production, he keeps them 
constantly employed in their appropriate sphere. 
Capital, to l)e productive, then, must always be 
put to some use. It must be employed either 
in directly supplying some of our wants, or else 
in producing articles fitted to gratify them. And 
as the man who thus uses his property always 
consults best his own interest, so also does he 
that of others. While hoarded wealth is of no 
service to any one, utilized wealth has a double 
profit — a profit for him who owns it, and for those 
employed in using it. Thus has God bound up 
the interests, of all together — of the rich and the 
poor, the capitalist and the laborer. 

4. Fixed and Circulating Capital. — Fixed capi- 
tal, as is implied by the term, is that form of 
capital which has one definite and fixed use, and 
which serves its purpose in production without any 
material change. Such are houses, lands, stores, 
ships, factories, machinery, wagons, plows, and 
aU instruments, tools, and implements employed 



14 POLITICAL ECONOMY. 

in any art. These are each confined to a single 
purpose, and thongL. they do change some by use, 
yet not perceptibly in short periods. They grad- 
ually wear out, and must be replaced By others 
of the same kind. The change which they un- 
dergo is that of destruction, not that of trans- 
mutation into other forms. In production, fixed 
capital is that which works upon 'the material to be 
changed, or in some way promotes its change, not 
the changeable material itself. Circulating capital, 
on the contrary, is the material worked upon. It 
is the material ever changing or circulating through 
the different forms which arise in the progress 
of production. Thus, what is a raw hide, in • the 
hands of the butcher, becomes leather in the hands 
of the currier, and shoes in the hands of the shoe- 
maker. In all these forms it* is circulating cap- 
ital; but when it comes to be worn as an article 
of dress it becomes fixed capital, since in this form 
it merely assists the individual in production. It 
has at length reached its final use and destination. 
Aiid so in other cases. Fixed capital, therefore, 
is capital put to its final use, while circulating capi- 



CAPITAL AND ITS FOEMS. 45 

tal is capital in all the forms wMch it passes through 
till it reaches that use. While the perfected instru- 
ment or machine, ready now to be used and worn 
out in production, is fixed capital, the material of 
which it is made at every stage in its progress to- 
ward completion, was circulating capital. The 
object of every form of production is perfected 
products, and every stage in the process is only 
a step toward that result. Of course, then, as 
production advances there must be a larger num- 
ber and a greater variety of these ultimate products. 
Hence, among an industrious people, every genera- 
tion leaves the world better off than that which 
preceded it. 

5. To WHAT Kind of Capital does Money Be- 
long ? — Some econo'mists regard money as belong- 
ing to fixed, and some regard it as belonging to 
circulating capital. Money, to be sure, is an 
important instrumentality in transacting business, 
and hence, in a general sense, in production. Men 
sould not produce so much without money as with 
it, since its use saves a great amount of time 



46 POLITICAL ECONOMY. 

whicli would otherwise be spent in changing off 
the various articles which they have to spare. It 
is then really only an instrument of exchange, not 
an instrument of production. This is its sole func- 
tion, and, in order to fulfill this function, it is 
undergoing perpetual change — ^not, indeed, change 
of form, but change of place. And as an article 
is never fully ready for its final use until it has 
undergone its last change, not only in form, but in 
place, and is thus directly available for that use in 
the spot where it is needed, money in circulation 
can never be said to have reached its final destina- 
tion. Money — Le., gold and silver, the only real 
money — reaches its final destination only when 
manufactured into jewelry, or other ornamental or 
useful articles which are capable of gratifying some 
human desire, or finds its lodgment in the vaults of 
some bank as the basis of its circulation. As to 
mere paper money, not based on gold and silver, 
its final destination is the rag-bag: Money, then, 
as the circulating medium, ever passing from hand 
to hand, must belong to circulating rather than 
fixed capital. 



LESSON VI. 

LABOB— ITS FOKMS AND BESULTS. 

1. Definition of Labob. — ^Labor is any exertion, 
■wliether of the body or of the mind, made for the 
purpose of producing some useful result. Exertion 
without any purpose, or for an evil purpose, does 
not deserve the name of labor. Such exertion is 
mere sport, or random action, or mischief. Labor, 
however, is not wholly of the hand : there is labor 
of the mind as well. Indeed, the labor of the 
hand proceeds from an antecedent labor of the 
mind ; the hand only does what the mind first 
conceives and wills. There are various kinds of 
mental labor also which do not lead immediately 
to any external acts: such as the various studies 
pursued in educating the mind, the investigation 
of the principles of science and of nature. Such 
exei-tions are among the most useful forms of labor, 



48 POLITICAL ECONOMY. 

since they lead to a knowledge of principles that 
guide the hand in its labors and enable it to 
achieve far more useful results. The study em- 
ployed in investigating the principles of steam, and 
the mechanical combinations by vi^hich it is ren- 
dered available in producing locomotion on the 
land and on the water, has led to all the astonish- 
ing changes in property, comforts, and conveniences 
which have resulted from railroads and steamboats. 

2. FoEMS OR KiKDS OF Labok. — Labor, then, may 
be either of the body or of the mind. But the 
labor of the mind, as far as it pertains to pro- 
duction, may be of two general kinds. It may be 
employed either in investigating the properties and 
laws of nature, or in contriving such combinations 
and arrangements of matter as will enable us 
to avail ourselves of these laws for. some useful 
purpose. The one may be called the labor of 
discovery, and the other the labor of invention. 
Thus, having discovered that combustible matter 
requires, in order to burn freely, a plentiful supply 
of oxygen or air, it becomes necessary, in order to 



LABOE — ITS F0EM8 AND BESULTS. 49 

turn this law to any useful account, to conceive 
such a combination of matter as shall secure such 
a supply, and at the same time render the heat 
produced by the fire available ; which is effected by 
a chimney terminating at the lower extremity in 
a fire-place or a stove. And the same is true of the. 
laws of steam, of electricity, and all the other agents 
and powers of nature. Their laws and modes of 
action, as well as the means of avaihng ourselves of 
them for various purposes, have all cost much pro- 
found and laborious study. The mind having thus 
discovered the law, and conceived a mode of ren- 
dering it available for any purpose, it only remains 
for "the hand to give form and substance to this 
conception by the actual construction of the ma- 
chine or other combination of matter which em- 
bodies it. Indeed, all hand-labor is but realizing 
by some external change a conception of the mind. 
The planting and cultivation of grain or of fruit- 
trees is as much a reaHzation, in external acts, of a 
knowledge of the laws of nature which pertain to 
vegetable growth, as the construction of a machine 
is the realization of certain mechanical laws of 
nature. 



60 POLITICAL ECONOMY. 

3. Of Peofessional Laboe. — Tlie labor of the 
different learned professions, as of tlie lawyer, tlie 
doctor, and the clergyman, is chiefly mental, and 
of that form of mental labor which has been desig- 
nated as the labor of discovery. The lawyer and 
the clergyman, to be sure, exercise their function 
chiefly in announcing the results of their investiga- 
tions before audiences. But this is a mere publica- 
tion of their views or doctrines, such as any mere 
philosopher might make. It is true, they always 
have a practical end in view, but that end does 
not require any particular external combinations 
in order to render the principles available. They 
are required merely to discover and announce the 
particular laws which apply to the case in hand. 
The clergyman is supposed to have studied the 
Scriptures so thoroughly and carefully as to be 
able to proclaim to all men generally, or to any 
one under particular circumstances, " what they 
must do to be saved ;" while the lawyer is required 
simply to bring forward the particular principles 
and laws which bear upon the case before the 
court. The exernal contrivances, or arrangements, 



LABOE-— ITS FOBMS AND BESULTS. 51 

as far as there are any, to enable men to avail them- 
selves of the doctrines or laws announcedj are to be 
found in the organizations of the church and the 
court. The labor of the doctor, indeed, is not 
so wholly that of discovery. He is required not 
only to know the laws of health and disease, and 
of the action of medicines upon the system, but 
often to invent mechanical contrivances to render 
them effective, and with his own hand to prepare 
and administer his remedies. These two latter 
kinds of labor, however, are rather incidental than 
essential to his profession. Indeed, the philosopher 
may not only discover a law of nature, but invent 
the contrivance for rendering it available to man, 
and even make the contrivance with his own hand, 
as has often been done. Still, the first kind of 
labor is his proper function, and the same is true 
of the learned professions. 

4. The Eesdlts of Laboe. — The result of labor is 
always some change, either mental or physical. 
The man who studies, always produces thereby 
some change in the state of his mind. His mind is 



52 POLITICAL ECONOMY. 

changed by the addition of the knowledge which 
he has acquired. He is made wiser thereby; 
he has truer conceptions of things. And as these 
conceptions can be of no use to any one unless 
embodied or reaHzed in some book or useful in- 
vention, it is customary in all civilized countries 
to encourage their embodiment by those who pos- 
sess them, by securing to them for a term of years 
the exclusive control of the manufacture and sale of 
their books and inventions. As to the physical 
changes produced in objects by labor, they are as 
numerous as the forms and processes of production 
and exchange. The farmer, by means of cultivation 
and the co-operation of the agencies of nature, 
changes his seeds and manures into vegetables and 
grain, and the miller changes the grain into flour ; 
the manufacturer changes his cotton and wool into 
cloth, and the trader changes off the cloth for teas, 
sugars, etc. Thus, every form of circulating capital 
is perpetually changing under the hand of labor. 

But all these multiplied changes must be, either 
a change in the visible form of objects, a change 
in their elementary form, or a change of their 



LABOB — ITS rOKMS AND RESULTS. 53 

place. The mecliamc, the artisan, and ordinary 
manufacturer change only the visible form of 
objects. They don't attempt to separate their 
elements, but, by enlarging, reducing, attenuating, 
or otherwise modifying them, simply change their 
shape. The farmer and the chemist, on the con- 
trary, change the elementary form of objects. In 
the processes of cultivation the farmer decomposes 
earths, manures, and extracts gases from the air, 
which are combined again into vegetables and 
grain. So, too, the chemist disengages elements 
from one substance and combines them with those 
of another, and thus forms new compounds ; and 
by the various modes of transportation employed 
by the merchant or trader, the place of articles 
is continually undergoing change. As each man 
can conveniently produce but a small number of 
articles, but wants many, and these widely scat- 
tered over the world, there must always be a cease- 
less change of place in all articles of use. Hence 
transportation must always be one of the most 
extensive branches of business, increasing as the 
wants of civilized man increase. 



LESSON VII. 
division of labor, and its effects. 

1. Of the Natueal and Necessaey Division of 
Laboe. — ^In the nature of tKe case, it is impossible 
for eacla man to perform every kind of labor, and 
produce all tlie articles whicli lie needs. And, 
.besides the want of ability in man, there is an 
equal want of means and capabilities for all kinds 
of production in every place. If every man were 
capable of being at the same time a farmer, a 
mechanic, a trader, a manufacturer, a chemist, 
etc., yet the means of exercising these various 
callings do not exist in all places. As a man 
could not be a farmer on the coasts of Green^ 
land, where there is no soil, so he could not be 
a manufacturer where there is neither water-power 
nor fuel. Much less could one produce all varie- 
ties of articles on the same soil and in the same 



DIVISION OF LABOE. 55 

climate. Hence some division of labor is a matter 
of necessity. Besides, even in the same conn try 
and climate, j^en differ so in their capacities and 
aptitudes, that they naturally incline to different 
kinds of labor. Accordingly we find everywhere 
doctors, lawyers, farmers, mechanics, traders, and 
all the varieties of producers and laborers required 
by the wants of the community. 

2. Op the Aetifioial Division of Laboe. — The 
division of labor, thus far described, is adopted 
without much thought, and in part as a matter 
of necessity. But experience and reflection lead 
to a further division. Seeing that men succeed 
best by pursuing some one kind of business, or 
producing some one article, the inquiry naturally 
arises, whether the process of division can not 
profitably be carried further. Almost every proc- 
ess of production can be divided into parts. A 
stock example is that of pin-making, which may be 
divided into wire-drawing, wire-straightening, head- 
ing, pointing, tinning, etc. Now, as the man is 
confessedly more successful who follows some one 



56 POLITICAL ECONOMY. 

employment, than the man who follows many, it 
would seem to be implied, that the laborer who 
devotes himseK whoUy to a single part of some 
process would be more successful than the one 
who goes through the whole process. And this 
is found to be the fact. Such a division, being the 
result of calculation, and being resorted to for its 
economic results, is the only division ol labor known 
to PoHtical Economy. 

3. The Economic Advantages of Division of 
LaboPw — When the process is divided and each 
laborer devotes himself to a single part, there is 
a great saving in several respects. In the first 
place, there is a large saving of time in learning the 
business, since a portion of a process is more easily 
and quickly learned than the whole ; as, for in- 
stance, putting on the bottoms of boots, than the 
whole process of cutting, crimping, and making gen- 
erally. And as the time required to learn one's 
trade is less, the waste of material from unskilful- 
ness while learning it is also less. In the second 
place, there is a great gain in skill arising from 



DIVISION OF LABOR. 57 

the attention being exclusively confined to a single 
operation. Skill is acquired in any thing by its 
frequent repetition. The mind and the muscles 
both become adapted to that which we do con- 
stantly. And the simpler the repeated process 
is, the more complete the adaptation, and the more 
perfect the skill. But where the process to be per- 
formed consists of several parts to be gone through 
with successively, several habits reaUy have to be 
learned, each of which unfits the laborer for the 
other ; since a habit of one thing, while it gives 
one skill in that particular thing, tends just so far 
to unfit him for any other thing. Thus, the process 
of preparing wood for the fire consists of sawing 
and splitting. If, now, one man gives himseK 
wholly to sawing and another to splitting, they 
wiU each in time acquire the greatest skill and 
power of endurance in his business of which he is 
capable. On the contrary, if each carries on suc- 
cessively the double process, the habit of sawing not 
only does not avail him in splitting, but actually 
tends to disqualify him for it. And so in other cases. 
And especially is this so where, ' in pass^ing 



58 POLITICAL ECONOMY. 

from one part of a process to another, not only 
tlie habits have to be changed or re-adjusted, 
but the tools also with which one works. In 
working up wood for the fire, the exchanging 
the saw for the axe with every stick is as great 
a hindrance as the re-adjusting of our habits to 
the different processes. Another advantage arising 
from the division of labor is, that it enables one to 
employ cheap labor for the simple and easy parts 
of the process, while if each operator had to per- 
form the whole process, it would be necessary in 
each case that he should be competent to the 
most difficult parts. And not only is the expense 
greatly diminished by such an arrangement, but 
women and children, and often feeble old men, 
are furnished with employment. The saving from 
these sources, spread over every department of 
industry, is in the aggregate very great, and to 
the same extent reduces the cost of products. 

4. Effects of the Division of Laboe on In- 
ventions. — As labor is divided, the portion which 
each operative has to perform becomes ]ess, and 



DIVISION OP LABOK. 69 

hence more simple. His whole attention is thus 
directed to a single operation, and his whole study 
is to see how this can be performed the most 
easily and effectually. By the repeated perform- 
ance of the operation and long attention to it, 
improvements in the tools for performing it nat- 
urally suggest themselves to him. And improved 
tools being made by the operatives in the dif- 
ferent parts of the process, these are at length 
combined in one or several machines, by which the 
whole process is performed almost without the 
aid of man. This is notoriously the history of 
nearly or quite all complicated machines. They 
have gradually grown up from separate improve- 
ments in the tools required in the various por- 
tions of the process, which they now perform as 
a whole. And while the separate improvements 
have generally been made by the common oper- 
atives, these have usually been combined into 
machines by head workmen, overseers, or other 
men possessed of more than ordinary mechanical 
genius and knowledge, who have been able to 
supply the principles by which the detached parts 



60 POLITICAL ECONOMY. 

could be linked together. Thus knowledge and 
practice go hand in hand with each other in mak- 
ing improvements, and neither is complete without 
the other. Without practice, knowledge is vague 
and theoretic; and without knowledge, practice is 
detached and fragmentary. 

5. Effects of the Division of Laboe upon the 
Laboeer and Othees. — Division of labor, like every 
thing else which facilitates and increases produc- 
tion, makes products cheaper, and hence benefits 
consumers, and of course the laborer, with others. 
At the same time, however, it must be confessed 
that division of labor, by confining the attention 
exclusively to single operations, requires less gen- 
eral intelHgence in the laborer, and tends to render 
him little more than an automatic machine for per- 
forming one simple process. If the operatives in 
factories, where labor is minutely divided, be com- 
pared with farmers and ordinary mechanics, who 
are accustomed to perform a variety of operations, 
the difference in general intelligence and breadth 
of views is at once apparent. The man who per- 



DIVISION OF LABOE. 61 

forms the several processes (altliough, it may be, 
less polished and sharpened on particular points 
by contact with others) embraces in himself nearly 
the same intelligence as the several individuals 
who perform them singly. Thus, division of labor 
reduces, as it were, several men to one, but this 
very fact tends to harmonize the interests of the 
different classes of laborers, since it makes them 
more dependent upon each other, Hke the mem- 
bers of the same body. And, in Hke manner, 
the distribution of the labor of producing differ- 
ent articles among different nations, from the ne- 
cessities of climate, soil, etc., renders the nations 
of the earth more dependent upon each other, 
and thus tends to the harmony of the world. 

6. Limitations of the Division of Labor --Divis- 
ion of labor, by distributing the operati^jQ to be 
performed into many parts, requires a laige con- 
centration of machinery and other forms of capital. 
This may be profitably done to the extent of one's 
abiHty to superintend and give harmony to the 
whole; beyond this it should not be carried. On 



62 POLITICAL ECONOMY. 

the contrary, some employments, for instance agri- 
cultural pursuits, do not admit of sufficient con- 
centration either in time or place to allow of any 
considerable division of labor. And in all employ- 
ments, no advantage can arise from attempting to 
divide the labor beyond the simple, ultimate parts 
of the process. 



LESSON VIII. 

MD TO PEODUOTION FEOM NATUEAL AGENTS. 

1. Natubal Agents Defined. — ^In the most gen- 
eral sense, natural agents include all the varied 
agencies and powers of nature. In reality, how 
little does man, of himself, do in production ! He 
is but the experimenter in nature's laboratory. He 
learns the conditions under which nature works, 
and sees that these conditions are fulfilled; but 
nature really does the work. This is as true in 
the simplest processes of agriculture as in the 
highest operations of the mechanic arts. The 
farmer places the seed in the ground, but it springs 
up by its own laws and forces. He moves the 
soil and manure around the plant, but this being 
done, he can do no more ; the plant extracts its 
own nutriment from these and other sources with- 
out his aid. Indeed, as akeady stated, man ere- 



64 POLITICAL ECONOMY. 

ates nothing in production; lie simply avails him- 
self of the materials and principles of action fur- 
nished by nature. "Without the natural properties 
of wood, iron, and other forms of matter, he could 
neither make nor use the lever, the inclined plane, 
the screw, the wheel and axle, the pulley, or the 
wedge. And without these there could be no such 
thing as machines, since all machinery is but the 
combination of some or all of these mechanical 
powers under various forms. But while all the 
natural properties of objects are, strictly speak- 
ing, natural agents, the great mechanical forces 
employed in producing momentum, such as steam, 
wind, water, electricity, etc., are more commonly 
understood as embraced under this term. 

2. Of the Natubal Agents Employed in 'Peo- 
DUOiNG Momentum. — Man, of himself, can exert a 
certain force. By the use of his various organs 
and limbs he cstn move not only himself, but 
many other objects also. After he has reached 
the extent of his own power he can call to his 
aid the strength of the lower orders of animals, 



AID TO PEODUOTION. 65 

which were made for his use, and constitute a 
part of the dominion over which he is placed. 
Some of these, being keener scented, he employs 
in capturing other animals which he can not 
catch himself; some of them being fleeter, he uses 
to increase his velocity, and some of them being 
stronger, to increase his strength. But even with 
their aid, there are many things which he can 
not do. His next step is, therefore, to call to 
his assistance the great inanimate natural agents, 
whose power is almost unlimited. The rock, which 
he can neither spht nor move by his own power 
nor by that of other animals, he rends in pieces 
by introducing into it a charge of gunpowder. 
The vessel, which he can not propel by any ani- 
mate force at his command, he moves by placing 
in it a steam-engine, or spreading sails upon its 
spars to catch the wiad. So, too, he turns the 
ponderous wheel, which neither man nor beast 
could stir, by directing upon it the precipitous 
stream, and sends along the telegraphic wire, by 
the power of electricity, the message which nei- 
ther the reindeer nor the carrier-pigeon is fleet 
enough to bear. 



qq political economy. 

3. Advantages of Inanimate oyee Animate Nat- 
ural Agents. — ^As we have seen, the powers which 
man calls to his aid in producing momentum are 
partly animate and partly inanimate. The use 
of animate agents is of great service to him, 
but the use of inanimate agents is of still greater 
service. Besides the greater power and velocity 
attained by their use, there are certain other ad- 
vantages which deserve notice. In the first place, 
inanimate agents can be made to work in a far 
smaller space than animate agents. The steam 
which is equal in force to the power of a hundred 
horses can be made to work in an engine which 
occupies but a few square feet ; whereas, a hun- 
dred horses would occupy the whole boat. Again, 
inanimate natural agents work continuously, and 
with great regularity and precision, while animals 
must have intervals of rest, often become restive 
under the hand of their driver, and. flag in the 
performance of their task. In traveliag by cars 
and steamboats, much time is saved not only by 
the increased speed attained, but also by the 
greater regularity and precision in their trips. It 



AID TO PBODUCTION. 67 

is true, tlie loss of life is very considerable by these 
modes of travel, yet it is probably less than would 
result from the same amount of travel by horse- 
power. And although the original expense of en- 
gines and the expense of maintaining them is great, 
still it is much smaller than that of purchasing and 
maintaining the number of animals adequate to 
perform the same work. These are some of the 
economic advantages of inanimate over animate 
natural agents. The question which of the inani- 
mate agents it will be the most economical to 
employ in any particular case, will depend wholly 
upon the circumstances. A good water-power 
convenient to market will generally be found 
cheaper than steam, for mill purposes, while wind 
for ordinary transportation and long voyages will 
be less expensive than steam. 

4. Eesults Accomplished by Machineey Moved 
BY Natueal Agents. — The object of machinery 
is to modify, regulate, and apply the power to 
just such a point and in just such a manner as 
we wish. Machinery is a sort of organism through 



68 POLITICAL ECONOMY. 

which the natural agent works. It is the feet by 
which it moves, the arms by which it reaches, the 
fingers by which it picks up, and the hands by 
which it clasps. By means of it we may give to 
the motion produced by the agent a perpendicular, 
a horizontal, or a rotary direction, as is seen in 
the trip-hammer, the railroad locomotive, and the 
steamboat. Or we may exert all the power upon 
a single point, as in forging anchors, or rolling 
iron ; or else we may distribute it over a wide 
space and among a variety of operations, as is 
done in a cotton factory, where carding, spin- 
ning, weaving, and various other operations are 
carried on in different parts of the building, — all 
as the result of the power exerted upon a single 
wheel by the natural agent, and transmitted 
through a succession of mechanical contrivances, 
till it reaches the separate operations to be per- 
formed. And as machinery has no nerves, and 
moves with perfect regularity and precision, it can 
be made to perform, without faltering, operations 
too delicate for the human hand, such as the spin- 
ning and weaving of the finest and most delicate 



AID TO PEODUCTION. 69 

fabrics. And finally, we may by macbinery accu- 
mulate power for a sudden stroke, as in the pile- 
driver, or for a gradual and regular evolution 
through a longer or shorter period, as in the 
clock or watch. 

5. Effects of these Aids to Peoduction on 
HmiAN Happiness. — ^As labor-saving machinery per- 
forms to some extent the labor of the hand, to 
the same extent it dispenses with human labor, 
and tends to turn men out of employment. But 
at the same time, it greatly diminishes the cost 
of articles, and hence increases the demand for 
them, and consequently for the labor required in 
producing them ; since the number of purchasers 
of any article of common use increases rapidly 
as it comes within the reach of those of small 
means, who are always vastly more numerous than 
those of large means. Besides, when articles are 
cheap they are put to new uses. Thus, cotton 
cloth, which during the war was scarce and dear, 
and hence used only for the most necessary pur- 
poses, but a few years ago, when it was cheap, 



70 POLITICAL ECONOMY. 

was used largely for hay-caps, and other similar 
purposes. And not only so, but, with the increased 
productiveness of labor, capital increases, and hence 
new wants spring up which haye to be supphed 
by new products. From these and the like causes 
the demand for labor is kept good, so that, not- 
withstanding the astonishing increase in the use 
of labor-saving machinery, the demand for labor 
was probably never greater than at present. La- 
bor, indeed, under improved processes and means, 
is more effective than formerly, and hence the 
laborer can devote more hours to social and self 
improvement, and less to toil. But these dimin- 
ished hours are better remunerated as production 
and capital increase. Hence, the use of labor- 
saving machinery is a blessing to all classes. 



LESSON IX. 

stimulants to labor. 

1. The Natueal Disposition of Man towaed 
Laboe. — Man lias been styled a "lazy animal," and 
with reason. Labor is irksome to him ; if it were 
not, he would value it at nothing, and hence set 
no price upon its exertion or results. There is, 
it is true, a cert?iin restlessness and love of activity 
in man, varying with the temperament, but not a 
love of continuous and systematic labor, such as is 
required in all production. Without some regular 
employment, indeed, man is uneasy and wretched ; 
but yet he will not generally work if he has the 
means of living without it. He will spend his time 
in hunting, fishing, traveling, and possibly in specu- 
lating, but not in regular labor. And yet we were 
evidently made for labor. We have all the pow- 
ers both of body and mind which are requisite 



72 POLITICAL ECONOMY. 

for it. We are capable of studying and knowing 
the laws of nature, and of supplying the condi- 
tions which are necessary in order to secure their 
operation in production. At the same time, labor 
is evidently conducive to our health as well as to 
our real happiness. Without exercise, both the 
mind and the body dwindle. And though they 
may both be exercised by way of pastime, yet not 
so effectually and satisfactorily as by useful labor. 
Labor, then, is not so much a "curse" as is the 
want of disposition to it in man. The ground was 
cursed for man's sake, i.e., in consequence of his 
lapse, and as a discipline to his perverted dispo- 
sition toward labor. 

2. The Stimulus of Necessity to Laboe. — Ma.is, 
has numerous wants to be supphed, and labor iito 
necessary to supply them. Nature, to be sure, ifjj 
ready to work for him, but in order to this ther-y^ 
is needed much laborious preparation, and thc^^y 
most constant and careful superintendence on his<-^tu 
part. Forests must be cleared away; lands must ir 
be drained, and broken up, and fertilized ; buildings ia 



STIMULANTS TO LABOR. 73 

for comfort and use miist be erected ; macliines 
must be constructed, and the wliole apparatus of 
production be prepared. And even after all tMs 
preparation is made, tlie constant co-operation and 
superintendence of man is required in order . to 
success. Hence man must work, or suffer from 
cold, and heat, and hunger, and thirst, and a thou- 
sand other causes. This necessity is as stern and 
inexorable as nature herself. If no one labors in 
any way, there must be an utter destitution of all 
the means of comfort and support. If such a ne- 
cessity wiU not goad one to labor, nothing will. 
And as our Creator has put this necessity upon 
us as a wholesome stimulus to exertion, it should 
'^nler be removed by any interference or any of the 
/angements of men. It should be borne in mind 
all arrangements for the reKef and support 
1 the poor. Only those utterly disabled should 
I wholly provided for by society. In other 
es, where they throw themselves upon the com- 
/nity for support, they should be required to 
')or to the extent of their abihty as a condition 
I their receiving the required aid ; and private 



74: POLITICAL ECONOMY. 

aid, as far as possible, should be regulated bj' 
the same rule. If benevolent persons would visit 
the abodes of the poor and the suffering, and in 
other ways inform themselves of their true condi- 
tion before administeruig to their relief, they would 
do much more good with their benefactions. 

3. The Stimulus of. Success. — ^Want is indeed an 
indispensable stimulus" to labor; but where the 
want is too great it is apt to lead to despair. 
"When all hope of success is gone, want is no 
longer a stimulus to labor. Some prospect of 
success, then, must be added to want in order to 
create an effective stimulus to labor. When the 
man who has been struggling with want firds 
that he is increasing his means by his exertioi^-is, 
even in the smallest degree, he is stimulated iio 
stiir greater exertions, and so toils on patiently i'ji 
hope of finally placing himself and family abo^'Ve 
want. This love of accumulation, once begun, mA<iy 
go on increasing, goading on the individual i^io 
greater and still greater exertions, till the ie^^ ir 
of wa]it is lost in the love of gain, and he comt's ia 



STIMULANTS TO LA.BOE 



75 



to I0Y6 tte bare possession of property for its own 
sake, and hence not only denies LimseH all rest, 
but almost all use of tbe products of Ms labor, 
till he becomes, in short, the merest miser. Or, 
on the other hand, aUowing his wants to increase 
with his means, and being pleased and flattered 
by their indulgence, he may be stimulated to 
equally great exertions in order to meet these 
wants and maintain for himself and his family the 
social position which they coyet. Many of these 
wants, to be sure, are fanciful and none of them 
are of the same essential character as those spoken 
of in the preceding paragraph; but. they are 
scarcely less effective in urging on men to un- 
wonted exertions. In a low state of production, 
there are not the means for gratifying any thing 
but the most essential wants ; and hence, in such 
a state, unless one substitutes the love of property, 
as such, for the love of its use, there is no stimu- 
lus to exertion after he has obtained sufficient for 
the few-wants which the state of the arts furnishes 
the means for gratifying. A reasonable regard to 
these less essential wants, therefore, is justifiable. 



76 POLITICAL ECONOMY. 

They are indicative of an advanced state of civiliza- 
tion. The savage knows nothing of them. 

■ 4. The Stimulus of good Laws, good Mokals, 
ETC. — The object of law is to administer justice ; and 
justice has to do largely with the right of property. 
Now the right of property is the right to hold and 
use as one pleases — of course in' an innocent way 
— ^what is his own. Any violation of this right is 
injustice, and must interfere materially with the 
development of industry and the accumulation of 
property. One will not labor for that of which he 
may at any moment be unjustly deprived. "Where, 
therefore, the government is unjust, and arbitrarily 
appropriates to itself the property of the subject, 
as suits its caprice, or fails to defend the subject 
from the rapacity of others, industry will be com- 
paratively paralyzed. But where the government 
itself strictly observes- the right of property, and 
obhges all others to observe it, then, property 
being safe, industry wiU be rapidly developed. But 
good laws are made and enforced only by virtuous 
communities. Hence we see the value of moralitj' 



STIMULANTS TO LABOB 



77 



and religion in a community. To maintain them 
costs something, o£ course, as does every thmg 
else wHch is valuable. But they are worth aU 
they cost. Indeed, without them, neither life, char- 
acter, nor property is safe, and would be of little 
worth if they were. 

5. Of Pboteoitve Laws.— Laws are often passed 
by goTermnents, laying a duty on articles imported 
from other countries as a protection to the like ar- 
ticles produced at home. Such laws evidently tend 
to stunulate industry in those departments, since 
they make it more remunerative. But the question 
is, whether they stimulate industry on the whole. 
No reasonable objection can be brought against a 
revenue tariff which assesses duties equitably on 
imported articles, with due reference to the different 
departments of industry, and solely for the purpose 
of revenue. It might indeed be said, that it would 
be better to raise the revemxe on internal pro- 
ductions, and thus leave commerce with other na- 
tions free. But besides that men pay internal 
duties more reluctantly than they do extAnal duties 



78 POLITICAL ECONOMY. 

raised indirectly on imports, it is clearly both impo- 
litic and unjust to exempt foreigners from paying 
duties on articles on whicli we compel our own 
citizens to pay them. We can not certainly ibe ex- 
pected to do better by others than we do by our- 
selves. But a tariff designed simply and solely to 
protect certain articles from foreign competition can 
rarely be justified, — ^never, indeed, except on the 
ground that the production of these articles is 
necessary for the defense and independence of the 
nation, or that their protection for a time will, by 
creating faciUties for their manufacture, diminish 
their price in the end. In the early history of a 
country there are undoubtedly many articles of this 
kind which should be protected ; it was so, un- 
questionably, in our early history.' But I can not 
beheye that, to any considerable extent at' least, 
it is any longer so. The great civil war which" 
has just ceased has shown that all the arts of 
production are sufficiently advanced among us to 
meet any emergency. And as the consumers of any 
article are always vastly more numerous than* the 
producers, it must be better for the whole that 



STIMULANTS TO LABOR. 7S 

each one should be allowed to buy where he can buy 
the cheapest. And even when prevented from doing 
this in any part of the world by a protective tariff, 
it does not help the case to retahate by a Hko 
tariff : it is better to adhere to the right ourselves, 
and protest against the wrong. 

It is quite clear that were each individual and 
each nation to produce what they can produce 
cheapest and best, and all exchange with each other 
without any commercial restrictions, the wants of 
the world would be the best supphed. It must be 
better for nations abounding in agricultural and 
mineral resources to create such products and ex- 
change them for manufactured articles with nations 
possessing manufacturing facilities, than to attempt 
by unnatural stimulants to produce their own 
manufactured articles. Exchanges, being free, 
would of course be more numerous, and hence 
the business of the world also would be greater, 
and not only greater, but far more stable and 
reliable, since protective duties in any department 
of industry present an unnatural stimulus, which 
inevitably leads to over-production, and in the end 



80 POLITICAL ECONOMY. 

to ruinous revulsions. Our most stable manu- 
factures are tliose that liave grown up in a nat- 
ural way without any protection ; such as the 
manufacture of shoes, of printing-presses, of loco- 
motives, sewing-machines, etc. 

6. BotJNTiES, INSTEAD OE A Taeief. — The effect of 
a duty on the importation of any article is, to 
raise to the amount of that duty the price of every 
bushel, pound, or yard of that article, whether pro- 
duced at home or abroad. Hence, if the con- 
sumption of wool, for instance, in this country be 
100,000,000 pounds a year, a duty of ten cents a 
pound on wool would add $10,000,000 to the sum 
which the people of the country would have to 
pay for their cloth ; while the wool-growers of the 
country producing, perhaps, not more than one- 
half of the whole amount cQjasumed, would receive 
but one-half of this sum — say $5,000,000. It would 
be cheaper, then, for the people to contribute this 
$5,000,000 directly to the government, that they 
might bestow it on our wool-growers in the form of 
a bounty, and thus keep down the price of cloth at 



STIMULANTS TO LABOE. 81 

least to the extent of tlie other $5,000,000, by al- 
lowing wool from abroad to come in free. Henco 
we see the folly of laying a heavier duty on the 
importation of any article from another country 
than exceeds the difference in the cost of pro- 
ducing the article in the two countries. Articles 
coming from countries where the cheapness of 
labor and other facilities diminish the cost of their 
production, may well be charged with a duty 
equal to that diminution ; any thing beyond this 
is only inflicting an injury on ourselves. 



LESSON X. 

BURDENS ON LABOR (TAXES). 

1. The Design of Taxes. — ^Tases are indeed a 
burden on industry, though this is not their de- 
sign. They are designed, for the support of the 
government under which one lives, and, when used 
legitimately, are applied only to that purpose. 
As men will not respect the rights of each other 
and live together in peace, it is necessary that they 
should have rulers placed over them. These rulers 
have to make, laws, to apply them, and see that 
their penalties are inflicted on those who violate 
them. To do this all over a country requires the 
services of a good many agents ; and, on extraor- 
dinary occasions, the number of these agents has 
to be greatly increased. It is the duty of the gov- 
ernment to see that the laws are respected and 
obeyed. "When, therefore, the laws are resisted by 



BURDENS ON LABOR. 83 

an insurrection or rebellion of any portion of tlie 
citizens, or the existence or independence of the 
government is threatened by a foreign invasion, 
the people look to the government for defense, 
and expect them to use every means at their 
command to save the state. Such services, of 
course, whether ordinary or extraordinary^ must bo 
paid for ; and as they are rendered for the benefit 
of the people, it is but just that the people should 
pay for them. Governments, indeed, are often 
more expensive than they need be ; the people are 
often over-governed, too many agents being em- 
ployed in the business, and these paid at too 
high a rate, and too much being spent for dis- 
plays, the gratification of pride, self-will, and the 
like. The expenses of government, too, are often in- 
creased by unwise financial arrangements, especially 
in time of war, when the public expenses are 
necessarily very great, and there is a strong temp- 
tation, for the sake of obtaining present ease, to 
initiate financial measures which can but prove 
ruinous in the end. When this is the case, the 
people have a right to complain. But all the le- 



84 POLITICAL ECONOMY. 

gitimate expenses of the government should be 
paid cheerfully, and the means of paying these 
can be obtained ultimately only by taxation. 

2. Kinds of Taxes.— The schedule of taxes on 
articles imported into any country is commonly 
called a tariff, and the taxes themselves go by 
the name of duties. These duties are either specific 
or ad-valorem, according as they are so much on 
the pound, yard, gallon, etc., or such a percentage 
on the estimated value of the article imported. 
But the most important division of taxes is into 
direct and indirect. This division embraces all 
taxes, of every kind. Taxes are said to be direct 
when levied directly on the individual who is to 
pay them, as a tax on one's poll, oi;on his income, 
property, or estate. But indirect taxes are levied 
in the form of an excise on articles produced within 
the country, or of a duty on those imported from 
abroad, which is ultimately to be paid by the con- 
sumer. Taxes are generally raised by the indirect 
method. Until of late, indeed, we in this country 
have known but little of any kind of taxes except 



BUEDENS ON LABOB. . 85 

duties on imports. As it is always optional with 
one whether he will manufacture any article or 
not, or purchase any imported article or not, 
he pays the duty in such cases much more cheer- 
fully than if levied directly on property already in 
hand. Indeed, as the tax is included in the price 
of the manufactured or imported article, the pur- 
chaser thinks nothing of it, and is not generally 
conscious that he is paying any tax at all. Be- 
sides, as men make their purchases at times con- 
venient to themselves, this method allows them to 
pay the tax included in such purchases when most 
convenient to them. But at the same time, the 
tax-payer, from the very fact that he is less sensible 
of the tax which he is paying, will also be less 
watchful and exacting of the government as to its 
expenses, since he will care but Httle about ex- 
penses which seem to impose no additional burden 
upon him. On the whole, however, indirect taxes, 
under ordinary circumstances, seem to be prefer- 
able to direct taxes. 

3. Effects of Taxes. — Taxes are so much de 



86 POLITICAL ECONOMY. 

ducted from the profits of capital and labor. Tlie 
services, of goyernment, which taxes are designed 
to pay for, are protective rather than directly pro- 
ductive. The making and enforcing of just laws 
are, indeed, in the iexisting state of things, a neces- 
sary condition of production, — ^but only because 
men will not restrain themselves within the bounds 
of justice. They do not increase at all the pro- 
ductive powers of man, and often, indeed, divert 
those powers, as in the case of war, to destructive 
purposes. Hence taxes diminish to their fuU ex- 
tent the productive resources of a country. The 
capital thus absorbed can no longer be employed 
in making useful machines or remunerating pro- 
ductive labor. Taxation, therefore, by rendering 
labor less productive, tends to raise "the price of 
articles, and consequently, to the same extent, to 
diminish consumption, since men will always con- 
sume less in proportion as the productive results 
of their labor are less. Hence, while taxes are 
actually paid by the consumer, they are really a 
burden and a restraint upon the productive ener- 
gies of a country. We see, therefore, that it is 



BUEDENS ON LABOB, 



87 



Utterly impossible that a « national debt" should 
be a "national blessing," as has been proclaimed 
by some. A national debt, whether in the form 
of bonds, certificates of indebtedness, or legal- 
tender notes, can be paid ultimately only by taxes, 
and hence represents so much burden upon in- 
dustry to be paid at some time. The less of such 
blessings a country has, the better it will be off. 

4 Pekoiples by which Taxation shotjid be 
GOYEBNED.-As the amount of taxes paid depends 
up-on the value of taxed articles which are con- 
sumed, and this, as we have seen, depends upon 
th; productiveness of labor, the great problem is, 
so to levy taxes as to impede production in the 
smaUest possible degree. It is clear, therefore, at 
the outset, that articles of prime necessity for the 
subsistence of the laborer, such as ordinary farmers- 
produce, cheap shoes and cheap clothing, should 
be taxed lightly, if at all. On the other hand, it 
is.equaUy clearthat luxuries or non-essentials, such 
as gold and silver plate, tea, coffee, spices, sixgar, 
tobacco, liquors, silks, and the Uke, should bear the 



88 POLITICAL ECONOMY. 

cliief burden of taxation. These articles, not being 
essential to the productiveness of labor, and many 
of them being positively deleterious, should be bur > 
dened to the full extent which they will bear. And 
still keeping in view the promotion of labor, the 
next heaviest burden should be placed upon H- 
censes, banks, incomes, dividends, legacies and suc- 
cessions, stamps, and other business transactions, 
which are farthest removed from simple labor. 

Again, the productiveness of labor in a particu- 
lar country is promoted, and at the same time that 
of other lands is not discouraged, by imposing such 
duties upon manufactured articles, chiefly the pro- 
duct of cheaper labor in other countries, as shall not 
exceed the difference in the cost of production in 
the two countries ; while those that are but slight- 
ly modified by labor, being mainly the free gift 
of nature, are admitted free. In this way a 
country avails itself at the same time of the most 
productive labor and the most productive energies 
of the world ; while by selfishly attempting through 
a high tariff to promote its own industry at the ex- 
pense of other countries, it rejects alike the bounties 



BUBDENS ON LABOB. 89 

of nature and the services of man. In short, the 
necessary revenue of a' country should always be 
raised on the simplest and most natural principles, 
and on as few articles as possible, that business m 
general may be free and unincumbered. 

5. Taxation to meet Wab Expenses. — In times 
of war the government becomes the great employer, 
and hence has occasion to use the greater part of 
the money of the community. This they can obtain 
only by borrowing or by taxation. If they issue 
notes to pass for money, these are but promises 
to pay at some future time, and are therefore 
just as much a loan contracted as is the sale of 
bonds. It is, indeed, a loan without interest, unless 
these notes are issued in excess of the demand for 
a circulating medium ; in which case a heavy inter- 
est or tax on them has to be paid by every one 
through whose hands they pass (and no less by the 
government than by others), on account of their 
constant depreciation. So, too, where a large 
amount of money has to be borrowed by the sale 
of bonds, these bonds, on account of the great 



90 POLITICAL ECONOMY. 

nnmber of them thrown upon the market, inevitably 
fall below par, and thus cost the people a very high 
interest in the end. Most of our bonds, during the 
late war, were sold, if estimated in gold, at from 
•forty to sixty per cent, discount. This heavy per- 
centage must be paid, when the bonds are paid, by 
taxation— the only advantage being that the taxa- 
tion is put off till the future. This gives relief, for 
the time being, to those who want to use their 
money, instead of paying it out in taxes, and secures 
the contributions of the augmented population of 
coming times in paying the debt. Loans are ob- 
tained of those who have the money to spare now, 
and are paid by a general taxation of the popula- 
tion of the country at the time when they fall due, 

Bvt, in the mean time, the interest (which must 
be very high, taking into account the low price at 
which the bonds are sold) must be paid, which, 
with the great rise in prices consequent upon 
the depreciation of the government standard of 
values, makes the tax upon the people scarcely 
less burdensome than when the whole expenses of 
the war are paid as they accrue — to say nothing 



BURDENS ON LABOR. 91 

about tlie burden bequeathed to future generations. 
Here, as in other cases, the best principle most 
unquestionably is, to pay as we go. Unless a na- 
tion has men and resources enough to produce 
more than is necessary to support its population, 
it can spare no men for war ; and just in proportion 
as it can spare men for this purpose, it is able also 
to support them in the field, and should do so. 
The proportion of men engaged in war not being 
greater than the excess of production of which 
the nation is capable, those at home wiU be able 
to support themselves and those in the field also. 



LESSON XI. 

peofitable and unpkofitable laboe. 

1. Laboe is Peofitable only when the Peoduct 
Exceeds in Yalue that Desteoyed. — As all pro- 
duction involves some change " in some object, it 
necessarily destroys tlie value whicb. the object had 
under its previous form; as the making up of a 
sheep-skin or a calf-skin into shoes destroys tha 
value which it previously had for covering trunks. 
Now, when the article produced by such a change 
is greater in value than it was before the change, 
the labor has been profitable, and the excess in 
value denotes the gross gain. But when the article 
produced is only equal in value to what it was be- 
fore, the labor of making the change has been lost ; 
and when it is less, there has been an actual loss 
of so much besides the labor. In both these latter 
cases the labor has been unprofitable. So, also, 



PROFITABLE LABOE. 93 

there is a loss in all those cases where the change 
produced merely ministers to the gratification of 
the senses or the taste, and not to the ability or the 
disposition to labor, so as to insure in the end 
a greater value ; such as dramatic exhibitions, fire- 
works, and other shows. Such displays may be 
well paid for at the time, and, as a means of im- 
provement, may, or may not, be of real value to 
those who witness them ; but as they end in a mere 
show, and do not materially contribute to further 
■production, they are in violation of the great eco- 
nomic law, that no value should be destroyed with- 
out terminating in the production of a still greater 
value. As far as such shows are not necessary for 
the relaxation and recuperation of the jaded powers 
of body or mind, they are economically useless, and 
generally hurtful. 

• 2. Peofitable Laboe eequiees Intelligence.— 
The object of labor being to produce some useful 
change in a substance, it must require intelligence 
to do this mth success. Any change at random' 
will not effect what is desired. Only changes of a 



94 POLITICAL ECONOMY.- 

particular character are useful; all others are either 
useless or destructive. And as nature, as we have 
seen, really does the most of production, all labor 
on our part, in order to be productive, must be 
in accordance with the laws of nature, — -must, in 
short, be employed in supplying the conditions 
according to which she works. Any amount of 
labor will not make a fire burn in the water, nor 
wheat grow upon a rock. If, then, we would work 
effectively, it is necessary that we should be ac- 
quainted with the laws of nature, and work in 
accordance with them. Many of these laws, to be 
sure, are quite obvious, and are learned from com- 
mon observation and experience ; but many of them, 
on the contrary, are unobvious and recondite. The 
most ignorant farmer knows that grass and grain 
win not grow without soil, moisture, and warmth; 
few farmers, however, are capable of determining the 
kinds of soil and manures best adapted to particu- 
lar kinds of grain, fruit, etc. Much less are men 
generally acquainted with ' the laws of the me- 
chanical forces, and the best combinations of matter 
for applying these forces to particular operations. 



PROFITABLE LABOE. 95 

So, too, but comparatively few are acquainted with 
the laws of trade and the functions of money. 
And yet all higher success depends upon a compe- 
tent knowledge of these matters. One may blunder 
along, to be sure, and get a living without it ; a 
natural tact and shrewdness may in many cases 
measurably make up for the deficiency, but one 
can never be a complete master of his business 
unless he understands the principles which control 
it. This alone wiU keep him from those wild and 
foolish experiments in business which are so ruin- 
ous to success. Hence the importance of a 
thorough and widely diffused education in the 
arts and sciences. 

^ 3. Peopitable Laboe eequiees Economy and Feu- 
GALITY. — The net gain in any business is what is 
left after deducting the outlay for materials, tools, 
labor, and expense of living. If the materials, 
tools, and labor are dearly purchased or wastefully 
used, this decreases to the same extent the profit. 
But even where these means are used with the 
greatest economy, there may still be a great want 



96 POLITICAL ECONOMY. 

of economy in the habits of the business man him- 
self. His personal expenses and those of his family 
may eat up all the profits. Hence the great im- 
portance of frugality as one of the social virtues. 
Profuse expenditures, to be sure, are not in aU 
cases so much property entirely thrown away, since 
they furnish employment to certain persons for 
the time being. Even where it is all consumed, 
some persons are employed in preparing it for 
consumption, and in various ways assisting in the 
process. A feast which consumes thousands of 
property must be prepared and superintended by 
numerous caterers and servants, just as elegant 
dresses must employ in their making numerous 
hands and needles. But if the food and drinks 
and dresses are more expensive than is for tho^ 
real good and comfort of those who use them, all 
this excess of expensiveness is a total loss to them 
And as extravagance in one is apt to beget extra, va» 
gance in others, those who profit by such profuse- 
ness are Hkely to become themselves profuse in turn, 
As a matter of fact, all know that those whose 
business it is to pander to the vices and ex- 



PKOFITABLE LABOR. 97 

travagance of others are not among tlie most 
virtuous and worthy classes of tlie community. 
Indeed, the economist and the moraUst alike can 
not but look upon their occupation as not only 
useless, but hurtful. True frugality, on the con- 
trary, enables the possessor of property to employ 
all that is not really for his good in the legitimate 
business of producing more property, thus giving 
employment to honest industry ; or to bestow it as a ' 
gift upon worthy objects and institujiions designed 
to promote the higher interests of society. If all 
that is uselessly and viciously squandered were 
carefully husbanded and judiciously bestowed, it 
would weU-nigh banish suffering, and want, and 
ignorance from the world. The dollar that is ex- 
pended in riotous living, or in costly dweUings and 
equipage, or in vain shows, is entirely used up 
on the occasion ; whereas, a dollar saved is an 
investment at compound interest for the support 
of labor in all coming time. 

4. Laboe to be Pkofitable must be entitled to 
ITS Beward. — Men do not generally work for the 



98 POLITICAL ECONOMY. 

good of others, but for their own. Members of tbe 
same family will indeed work for each other, be- 
cause they regard their interest as the same, and 
a sympathetic feehng will often prompt good men 
to do something for the destitute and the suffer- 
ing ; but systematic and sustained labor can be 
ehcited only by the prospect of reward. Hence 
it is that there is so little productive labor in coun- 
tries where the right of property is not enforced. 
For though the laborer should receive his reward, 
yet, being liable to have it taken from him at any 
time, it is all the same as though he did not 
receive it. Men like not only to receive a reward 
for theif labor, but to retain it also, and make 
such use of it as they please. Property is w^hat 
is one's own, and if one does not feel secure in its 
possession, it is not property to him. Hence it is, 
too, that slave labor is so unprofitable. Slavery 
not only discourages and renders labor disgrace- 
ful among all except slaves, but takes away from 
the slave himself all stimulus to labor except that 
of punishment. He is lured on to toil by no pros- 
pect of reward. He is not at work for himself, 



PEOFITABLE LABOE. 99 

but for his master, who, he feels, has no right 
to his services ; and hence he does as httle as 
possible, and that little as poorlj as possible. For 
a similar reason, every Community System of labor 
has been found unprofitable and proved a failure. 
Members of a community having a common treas- 
ury and a common table, have not the stimulus 
of individual reward to labor for. Ho member can 
ever have any property of his own, but merely share 
in the common stock with the other members— the 
ignorant, the indolent, the unskilful, being placed 
on a par with the inteUigent, the active, and the 
skilful. Co-operation in labor is aU-important for 
the success of industry; but what is technically 
called "communism," which makes all things com- 
mon, can but prove ruinous to it. 



LESSON XII 



BUSINESS. 



1. The various kinds oe Business. — One's busi- 
ness is what he busies himself about ; and as every 
one has wants to be supplied, every one has to 
be busy about something. This is specially so 
in a civilized community, where the wants are 
numerous and imperative, and the arts at the same 
time, in consequence of an improved knowledge 
of the laws of nature, are in a correspondingly 
advanced state. In such a case, society presents 
a scene of wonderful and almost bewildering ac- 
tivity. In the cities, where all the lines of business 
converge and meet, men are rushing to and fro 
in endless confusion, but each intent upon some 
object. Of this mass, while all are consumers, 
some are producers, some traders, and some profes- 
sional men ; some are tillers of the soil, who have 



BUSINESS. 101 

brougM their produce to market ; some mechanics, 
employed in erecting buildings and preparing 
household furniture ; some manufacturers or deal- 
ers in cloths, furs, boots, shoes, or other articles of 
wearing apparel ; some import articles from foreign 
countries and send home-productions abroad ; some 
" go down to the sea in ships and do business upon 
the mighty waters ;" some are jewelers, and some 
musicians ; some costumers, and some caterers ; 
some hod-heavers, and some common carriers ; 
some are students, and some teachers ; some ex- 
pound the law and som6 the Gospel ; some minister 
'^^ to the body and some to the soul. In these and 
< numerous other forms, the ceaseless activity of a 



^ civilized community embodies itself, flowing through 
J^ all the channels of society and giving rise to all 
c\ the avocations of life. 



2. Choice of . Business.— In determining what 
business to follow, we should first take into the 
account our own qualifications and aptitudes. By 
nature and education, every man is better fitted 
for some one kind of business than for any other; 



102 POLITICAL ECONOMY. 

and it is all-important to Ms happiness and sn(j- 
cess tliat lie should hit upon that kind of business. 
Some have the copiousness of thoughts and words 
which fits them for becoming orators, and some 
the perception and love of beautiful forms, that 
point them out for artists ; some have the strength 
of arm and muscle required in the farmer or the 
niechanic; and some the agility and quickness of 
perception which fit them for trade and the lighter 
employments. Men do not, indeed, always find 
their affinity in business any more than they do in 
their social relations, though it is vastly important 
that they should. But, besides their own qualifica- 
tions, men should be guided in their choice of an 
occupation by the nature of the employment itself. 
Some occupations are injurious to the interests of so- 
ciety, and hence disgraceful, such as pandering to 
the vicious appetites and hlsts of men ; and some 
are of doubtful utility in their effects both upon the 
community and upon those engaged in them. Such 
occupations ought to have no existence, and no 
person having any regard to his own real good 
and the good of others should ever think of en- 



BUSINESS. 103 

gaging in them. In short, in a politico-economic 
point of view, those occupations are the best 
v/hich do the most to supply the real and sub- 
stantial wants of men. Getting a living by the 
^dces of others is infamous, and getting a living 
by cheating them is not much better. Earning 
money by honest industry is always honorable, but 
getting it by speculation and the various tricks 
of trade is of doubtful credit to one — as, indeed, 
it is, on the long run, of doubtful utility to him. 
Property easily and suddenly obtained is rarely 
permanent. " Easy comes, easy goes," says the 
proverb. Besides, such strokes of good luck are 
apt to corrupt the character and turn the head, 
begetting a recklessness of expense and of risks 
which ends in ruin. On the contrary, habits of 
honest industry promote fragahty and sober views 
of life, which are the surest guaranty of ultimate 
success. 

3. The kelatf/e Peofits of diffekent kinds of 
Business. — Where there are no restraints upon 
capital and industry, but each one is allowed to 



104: POLITICAL ECONOMY. 

devote his means and his energies to any business 
which he prefers, there can not be permanently 
any material difference between the profits of dif- 
ferent kinds of business. Energy and skill, to be 
sure, will give one greater success than others in 
any kind of business, and superior knowledge 
and means may enable one to open up some new 
kind of business more profitable than those in 
which others are engaged; but this can not long 
remain so, since capital will combine to create a 
competition in the business, if individuals have not 
the means of doing it. Thus the different kinds 
of business are sure to attract capital and industry 
just in proportion to the profits they yield, and 
hence will always take care of themselves without 
any special legislation or interference of the gov- 
ernment. Still, the gains are slower in . some kinds 
of business than in others. Thus, farming and 
some of the mechanic arts do not yield so rapid 
a remuneration as commerce and some branches 
of manufactures and trade ; but, on the contrary, 
they are not attended with so great risks. They 
do not require the employment of so much capital. 



BUSINESS. 105 

and furnisli a better security for tlie permanence 
of that whioli is employed. There are but few 
failures among farmers or mechanics compared 
with what there are among manufacturers and 
merchants. So that if one or ten years do not 
bring in as large a reward to the farmer or the 
mechanic as to the manufacturer or the merchant, 
twenty or fifty years may. Besides, perhaps trade, 
manufactures, and commerce attract to themselves 
a higher order of energy and talent, which of course 
should receive a higher reward. 

4. Importance to a Nation of variety of Em- 
ployments. — As already stated, different men are 
fitted for different employments. At the same time, 
the wants of men are various, demanding different 
employments. Now it is vastly important to 
any people both that these various talents should 
be employed, and that these wants should be 
supplied, as far as possible, among themselves. 
The intercourse of men is more agreeable and 
improving to each other where their occupations 
and experience differ somewhat, than where they 



106 POLITICAL ECONOMY. 

are the same. Hence society is mucli better un- 
der such a state of things. But more than this, 
the ends of true economy are* much better met by 
such an arrangement. In this way a people, while 
they give employment to their own industry, supply 
to the best advantage their own wants. No one kind 
of industry can prosper alone. If all were engaged 
in commerce there would be nothing to export or to 
pay for their imports; If all were farmers there 
would be no one to consume or export their surplus 
products. And if all were traders or manufacturers 
there would be an utter want of all . means of pur- 
chasing their goods, as well as of all material to 
manuf acturei Each kind of industry stimulates and 
promotes the others, and when as many kinds as 
possible are carried on in the same community or 
country, they all prosper the best. The soil, 
climate, and other circumstances, it is true, place a 
limit to the kinds of business which can be profit- 
ably pursued in any given country ; but there can 
be no doubt that it is best for every nation to 
bave as great a variety of avocations among its 
inhabitants as possible. This is one important 



BUSINESS. 107 

advantage enjoyed by onr own country over most 
otliers, wliere the great extent of territory, and tlie 
greafc variety of soil, dlimate, and natural facilities 
promote tlie greatest variety of employments, while 
the laws of the land allow each one the greatest 
fi-eedom in the choice of his business, and protect 
him in its pursuit. 

. 5. Fluctuations in Business. — ^As production is 
the basis of business, business must vary as this 
varies. Some seasons are more favorable to agri- 
cultural and manufacturing pursuits than others, 
and hence more favorable to business generally. 
Propitious and bountiful seasons make all kinds 
of business good; since large products make large 
transportation and exchanges, and, bringing in large 
returns, diffuse money through the country, and 
enable the people to employ mechanical and other 
labor in making improvements, to travel, trade, and 
set aU kinds of business in motion. Unpropitious 
seasons, on the contrary, produce a general dearth 
aiirl stagnation of business. Business varies, also, 
with the stimulus applied. A sudden rise in prices. 



108 POLITICAL ECONOMY. 

from the imposition of a higli tariff, from tlie de- 
mands of war, of great migrations, of the opening 
of new countries to trade, the discovery of mines, 
and the Hke, always adds new intensity and activity 
to business. But such periods of intense activity 
are pretty sure, by over-production, to be followed 
by a general stagnation. Thus, from natural causes 
in man and in nature, there is a continual flux and 
reflux in the business of every country. 



lESSON XIII. 

EXCHANGE. 

1. Exchange in Kind. — One of tlie great depart- 
ments of productive industry is excliange. One 
can obtain nothing which he does not produce him- 
self, except by exchange. Without exchange, there- 
fore, every article of this kind is just as useless to 
him as though it were not produced. It may be 
near the one who wants it, or it may be far off, but 
it is of no avail to him unless it is his, and in his 
possession. And were there no accepted medium 
of exchange, — i.e., some article which aU are ready 
to receive and pay out at a fixed value for other ar- 
ticles, — the only way in which one could obtain what 
he wants for what he has to spare, would be to look 
up some one who has what he wants, and at the 
same time wants what he has. To do this literally, 
bo might have to go five, ten, a hundred, or even 



110 POLITICAL ECONOMY. 

tliousands of miles; to cross oceans and traverse 
continents. So that to obtain some of tlie com- 
monest articles now in use, sucli as tea and coffee, 
would be practically impossible. This mode of 
exchange, since the articles themselves are directly 
exchanged one for the other, is called exchange in 
Hnd, or harter. Under such a mode of exchange, 
indeed, there would spring up middle-men, or trad- 
ers, who would assist in mediating the exchanges ; 
but even with their assistance it is quite evident 
that such a mode of exchange is entirely inadequate 
to the wants of a civilized community, and that 
wherever it is in vogue the exchanges can be but 
few, and the people must Hve almost entirely on 
what they produce themselves. 

2. Exchange by means of a circulating Medium. 
— The inconveniences attending exchange in kind 
are sure, at a very early period in a nation's prog- 
ress, to lead to the adoption of some circulating 
medium which every one will take and give, in 
exchange for other articles. At different periods 
and in different communities, as we know, almost 



EXCHANGE. Ill 

CYOTj article has served in turn for sncli a medium ; 
as salt, iron, shells, Indian corn, tobacco, gold, 
silver, etc. It is called a circulating medium be- 
cause it is a medium or means of exchange which is 
continually passing from hand to hand. Its func- 
tions are obvious. It is a mere . " go-between" or 
instrument in effecting exchanges. Finding that 
it takes so long to exchange off their surplus 
products directly for what they want, men readily 
agree to receive some representative article for aU 
others at certain rates. The principle of exchange, 
however, still continues to be that of labor for labor. 
If it is agreed that a pound of tobacco, or an ounce 
of iron, or a pennyweight of gold shall be re- 
ceived for a bushel of corn, it is because, at the 
time, the labor of obtaining these articles is equal 
to that of raising the corn. The only exception to 
this is the use of paper as a medium, which will be 
considered hereafter. But the representative article 
being once obtained, it may pass through thousands 
of hands without any further labor being bestowed 
upon it. Henceforth its only use is to represent 
the value of other articles, and by being received 



112 POLITICAL ECONOMY. 

and paid out as such, to save tlie labor necessary 
in exchanging off things in kind, and the perplexity 
in determining their relative value without some 
estabhshed standard of value to which thej may- 
all alike be referred. 

Now, relying upon the universal receivability 
of this article, men who have a surplus of means 
furnish themselves w^ith a supply of it, which they 
are always ready to give for articles that others 
have to exchange off; ^hile the same men, or others, 
keep on hand articles which their neighbors want, 
which they are equally ready to part with for a 
certain amount of the established medium. Thus 
we obtain what we want by two exchanges on the 
spot, instead of effecting the same thing by a single 
exchange after a long search for a customer. The 
trader thus does us a real service, for which he 
receives his compensation by paying enough less 
for the articles which he takes of us, and charging 
enough more for those furnished us, to pay the cost 
and risk of providing what we want and exchanging 
off what we have to spare. 

3. Laws of Exchange. — ^Exchange, like all other 



EXCHANGE. 113 

productive labor, is conducted upon tlie principle 
of gain. Men trade for gain, just as they perform 
any other irksome labor. AU voluntary exchanges 
are made upon this principle. Hence men will 
always trade where they can trade to the best ad- 
vantage, and goods will always flow to the best 
markets. These laws are in active and constant 
operation, and we may count upon their effect in 
every case. When allowed their free and unob- 
structed course, the whole business of trade flows 
on smoothly ; but attempts are often made to inter- 
fere with them by forcing men to make exchanges 
which they deem against their interest. Thus gov- 
ernments, in want of means to carry on war, or for 
some other purpose, often issue paper money and 
declare it to be equal in value to gold, and enact 
that it shall be exchangeable for gold, and for other 
articles at the price of gold. In such a case, as 
men deem it to be no longer for their interest to 
exchange their gold and other articles for the gov- 
ernment paper, if required to do so, the only effect 
is that gold and other articles disappear from the 
market ; and if exchanged at all, it is only done 



114: POLITICAL ECONOMY. 

clandestinely for other things which thej prize, or 
at a greatly enhanced price for the goyernment 
paper. But if the government paper be -merely 
declared a legal tender, then exchanges will con- 
tinue indeed, but at much higher prices than when 
gold was the medium, — prices such as to satisfy 
the seller that it is for his interest to part with his 
articles. Trade, then, like every other species of in- 
dustry, if let alone, will regulate itseK. 

4. Slow and Kapid Exchanges.— Almost every 
article, in the regular processes of production, 
passes through several hands before it reaches its 
final destination. Even the grain of the farmer 
has to be ground and cooked, as well as raised, 
before it is ready for consumption. Often, too, it 
has to be transported to distant parts of the coun- 
try, or even exported to foreign lands, thus greatly 
increasing the number of hands which it passes 
through. And most other articles pass through 
a much larger number of hands before they are 
consumed; and this aU. in the natural course of 
things. But not unfrequently, articles in the course 



EXCHANGE 115 

of their progress toward their final destiny, are 
bouglit and sold, and transported many times on 
speculation, wMch still further increases the number 
. of hands that they pass through. And where this 
happens to almost every article, it greatly increases 
the number of exchanges in a country. Now does 
such an increase of exchanges indicate a desirable 
state of things ? We sometimes hear the proverb 
quoted with approbation, that " a quick sixpence is 
better than a slow shilling." Perhaps it is for 
speculators and cunning persons who are engaged 
in running up prices artificially ; but not, I must be- 
lieve, for the community at large. When a large pro- 
portion of a community are engaged in buying and 
selling, to the neglect of productive industry, it al- 
ways indicates an unhealthy state of things. It has 
been thus during and since our civil war. Money 
has been plenty, and hence easily commanded for 
the purposes of speculation. Not only have men 
been engaged in speculating in worthless stocks, 
which, without any real present value, and depend- 
ing for their reputation chiefly upon their specious 
names of " gold stocks," " coal stocks," " copper 



116 POLITICAL ECONOMY 

stocks," and " oil stocks," they have cried up or 
down, according as they wanted to sell or buy ; but 
they have speculated also in all the ordinary arti- 
cles of hfe, thus in many instances doubling their 
price. Whoever hkes this state of things may pre- 
fer the quick sixpence to the slow shilling, but for 
my part, I prefer the latter. 

5. FoEEiGN Exchanges. — Our wants, being numer- 
ous, can not all be supplied by articles produced in 
any one country. If we look over the hst of articles 
in use in this country, we shall see that a large 
number of very important ones come from abroad. 
These, of course, hke all articles which we do not 
produce ourselves, can be obtained only by ex- 
changes. We may give in exchange for these arti- 
cles other articles which we produce, or we may pay 
for them in gold and silver, the common money of 
civilized nations. Paper money, even when redeem- 
able in gold and silver, wiU not suffice for foreign 
exchanges. If we import silks, teas, coffee, and the 
like, from foreign countries, we must pay for them 
in real values ; as gold and silver, agricultural or 



EXCHANGE. 117 

manufactured products, bonds, or some other arti- 
cle wMcli they want. And if we do not produce the 
articles which are wanted in exchange for them in 
the countries where they are obtained, we must first 
obtain these articles by exchanges with those coun- 
tries which do produce them, and send them thence 
to places where they are required. Thus, if sugar 
be required to settle our balances in Europe, we 
can send lumber to Cuba, and exchange iif for that 
article and forward it thence to the point desired. 
If it be gold that is required, we can obtain that in 
the same way from some gold-producing country,, if 
there be none to spare in our own. Foreign ex- 
changes, like other exchanges, are made, of course, 
for profit. They may sometimes, indeed, as in 
other cases of exchange, prove not to be profitablej 
but when they are profitable they are always well 
made. It matters not where the articles exchanged 
go to or come from, if only a profit is made ; and the 
larger the field from which the articles are selected, 
the greater the chance for profit. 

6. Bills of Exchange. — ^If all the exchanges of 



118 POLITICAL ECONOMY. 

products and mercliandise between different coun- 
tries and different cities were made directly back- 
ward and forward between tlie same individuals or 
parties, they would be very easily adjusted. If, for 
instance, all tbe cotton purchased in Boston at New 
Orleans were purchased by and of a single firm, and 
all the manufactured goods purchased in New Or- 
leans at Boston were purchased by the same firm in 
New Orleans and of the same firm in Boston, they 
would merely have to offset one purchase against 
the other, and settle the balance, if there were any, 
by cash. The exchange would be merely an ex- 
change in Mnd. And such, in reality, it generally 
is ; since one community is able to purchase of an- 
other only by means of what it produces itself, either 
directly or indirectly. If, then, the claims in one 
city or country against another can be brought to- 
gether, they will in a great measure balance each 
other. This is done by bills of exchange. If A in 
Boston owes B in New York $1000, and in New 
York owes D in Boston the same sum, then A can 
purchase of his fellow-citizen T> his claim- against 
(called a bill of exchange), and send it to his cred- 



EXCHANGE. 119 

itor B, wlio can collect it of Ms fellow-citizen C, and 
the whole will be settled without the transportation 
of any money, it having been reduced to a mere 
exchange in kind. And in the same way the ex- 
changes between different countries are settled. 

Exchanges are continually going on not only 
between cities in the same country, but between dif- 
ferent countries as well. When the exchanges are 
equal between two cities or countries, they may all 
be settled by bills of exchange ; but when not, specie 
must be sent to meet any excess of indebtedness on 
the part of either. In such a case, the balance 
of trade is said to be against that city or country, 
and bills of exchange there, of course, will be high, 
since there will be more persons wanting to make 
payments in the other city or country than there are 
who have funds there to draw against. During our 
late war, our imports from England being greatly in 
excess of our exports, exchange on London was 
high, and much of the gold which was driven from 
the circulation by our legal-tender notes was trans- 
ported to that country and bills of exchange drawn 
against it to be sold at a high premium to our 



120 POLITICAL ECONOMY. 

importers. But the rate of exchange can never 
exceed the cost of obtaining and transmitting the 
gold to the place where the balance is due. It 
should be recollected, however, that the value as- 
signed to English and French coin by our laws 
is considerably below their real value, so that when 
exchange on London is at 9^ per cent, advance, and 
5 per cent, on Paris, it is really at par, — rthis ad- 
vance being merely equal to our under-estimation 
of the valuQ of their coin. 



lESSON XIV 



1. The amount of Money eequieed foe the 
Business of a Community. — The amount of money 
required for the business of any community will 
depend, of course, upon the extent of the business 
to be transacted and the extent of territory over 
which it is spread. Though one community may 
economise the use of money more than another, by 
using checks and drafts instead, yet, the greater the 
number and the amount of its exchanges, the greater 
will be the amount of money required to make 
them. So, too, if these exchanges are made at a dis- 
tance from each other, it will require more money to 
make them than if made near each other, since 
exchanges at a distance are more independent 
of each other, and can not so often be made with 
the same flaoney. As already explained, in the 



122 POLITICAL ECONOMY. 

natural course of production most articles change 
hands several times before they reach their final 
destination. These may be called natural and legit- 
imate exchanges. Now the question is, how are we 
to ascertain the amount of money necessary to make 
these exchanges in any community? The answer 
is at hand. When the circulating medium of a 
community is gold and silver, only natural and legit- 
imate exchanges are made, since the money-equiv- 
alent, or price', always represents the same amount 
of labor as the article for which it is exchanged. In 
such a case, the prospect of gain by a rise in the 
price is not sufficient to stimulate men to make 
many exchanges on speculation. 

A certain amount of gold and silver money, then, 
is necessary to. transact the busiuess of a community 
with convenience. If at any time there be more 
than this amount in circulation, it will flow off to 
other countries^ or be manufactured into jewelry ; 
and if less, the deficiency will soon be supplied, like 
a deficiency in any other article. Now, such an 
amount of coin being necessary for this. purpose, if 
paper money be substituted for it and accepted as 



MONEY, METALLIC AND PAPER. 128 

the medium of exchange, the same number of dollars 
will be required, and no more. If there be any- 
more put in circulation, its value will depreciate in 
the same proportion, so that the value of the whole 
will be no greater, however much increased in vol- 
ume. In Great Britain, the note and coin circulation 
together is about $460,000,000 ; and it is estimated 
that the amount of currency based upon specie re- 
quired in our country is about $300,000,000, which is 
about one-fiftieth of the whole property of the 
country ; and however much there may be in circu- 
lation, it can never be worth more than this number 
of gold dollars. 

2, Paper. Money. — Coin, as we have seen, pos- 
sesses a real value, Hke any other article which is 
produced, depending upon the labor bestowed upon 
it in preparing it for use. Paper money, on the 
contrary, possesses but little value in itseK — ^barely 
that represented by the amount of rags and print- 
er's ink required to manufacture it. Its chief value, 
therefore, is conventional, arising from its being 
agreed upon or accepted as the circulating medima 



124: POLITICAL ECONOMY. 

As stated above, a certain amount of money must 
be liad to make exchanges witb, and if paper money 
be accepted, it will be used. But as it has no 
value of its own, every dollar beyond what is ac- 
tually required for the legitimate business of the 
community is perfectly worthless, and only increases 
the volume of the currency without enhancing its 
value. Any excess, therefore, in the amount of a 
paper currency shows itself in a general rise in 
prices. Dollars being more abundant than the 
business actually requires, they are estimated at 
less, and hence a larger number of them is de- 
manded for an article. This depreciation goes on 
with the increase of the volume of the currency, and 
wiU exactly keep pace with it, unless the parties 
issuing the money are regarded as responsible anci: 
as likely in the end to redeem it in real values. If 
the circulating notes bear the promise to pay of a 
strong and well-established government, they derive 
a certain value from the probability that the gov- 
ernment will at some future time fulfil its promise. 
Still, any mere promise to pay at some indefinite fu- 
ture time, by whomsoever made, can not prevent a 



MONET, METALLIC AND PAPER. 125 

note, if issued in excess of the amount required in 
specie, from depreciating, thougli it may retard some* 
what its downward progress. The value of a paper 
dollar, then, depends partly upon its being needed 
as a medium of exchange, and partly upon the pros- 
pect of its being ultimately redeemed in real values. 

3. Paper Money redeemable in Specie. — The 
only sure way to keep paper money from depre- 
ciating is, by the party issuing it standing ready to 
redeem it at any moment on demand in the precious 
metals. Then, if there be any considerable excess 
in the circulation, it will flow in for redemption. It 
is not sufficient that it should be redeemable in 
ordinary articles of value. Such articles fluctuate 
too much in price, and are not universally receiv- 
able in exchanges. All persons are not desirous 
of obtaiuing them at all times, and hence, to be 
required to receive them in redemption of notes 
would be hke deferring their redemption for a 
longer or shorter period ; since it might be some 
time before we should be able to exchange off 
these articles to our liking. But gold and silver 



126 POLITICAL ECONOMY. 

have great uniformity in value, and are always 
in demand. Every one wants to get as much 
of them as he can. Being comparatively rare prod- 
ucts, beautiful in appearance, and easily wrought 
into beautiful forms, they are the universal money 
of all commercial nations, and besides, are valua- 
ble for plate, jewelry, and other ornamental pur- 
poses. They are thus just fitted to be the basis 
for the paper circulation of any country, and they 
are the only articles which are precisely fitted for 
this, requiring only that the different pieces be 
coined and stamped by the government according 
to their real value, that this may be readily known. 

At the present time (1867) our paper money is 
redeemable in the bonds of the United States, 
bearing semi-annual interest at six per cent, in 
gold, and payable at different periods in the fu- 
ture. But notwithstanding the undoubted ability 
and disposition of our government to pay, this 
has not prevented the great depreciation of our 
money. And that it is our notes which are worth 
less, and not the gold that is worth more, is 
evident from the fact that p ^Id is no more diffi* 



MONEY, METALLIC AND PAPEE. 127 

cult to obtain from tlie mines now than formerly, 
nor is it any dearer in other countries. Indeed, 
even specie-paying notes sometimes become de- 
preciated by being issued in excess in times of 
pubKc confidence. This was often the case under 
our system of State banks, and when so, was 
invariably indicated, as any depreciation always 
is, by a spirit of speculation rampant in the com- 
munity. But in such cases the suspicions of some 
shrewd persons are at length aroused, and tho 
specie demanded, which leads to a run upon the 
banks, and their failure, if not sound. 

4. Ceedit Substitutes for Currency.— Although, 
in one sense, currency is itseK a form of credit, yet, 
when a legal tender, or redeemable in specie, it 
pays debts, which pure credit does not, but simply 
acknowledges a debt to be paid at some future 
time. The usual forms of credit are,— book-ac- 
counts, notes of hand, bonds, bills of exchange, 
and checks. Book-accounts simply give the pur- 
chaser credit for a certain number of months ; 
but the goods thus purchased may be sold again 



128 POLITICAL EOONOMT. 

and again on credit before the account becomes 
due, tlius creating in the commnnity many times 
the original credit. Notes of hand are generally 
retained by the holders till they are due, and then 
collected in money or its equivalent. Occasionally 
they pass from hand to hand in the payment of 
debts, but to no considerable extent. However, as 
they are on time, the products or merchandise for 
which they are given may, as in the previous case, 
be sold and resold many times for the like credit 
before they fall due. Bonds being generally predi- 
cated on certain property specified in the bond, 
that property, of course, can not be sold till they 
are paid. The bonds themselves, however, may 
pass from hand to hand in the payment of debts, 
as do the United States bonds to some extent at 
the present time. 

As to bills of exchange, acceptances, or drafts, 
predicated upon credit given some one for goods or 
other articles, they are themselves a counter-form 
of credit, designed to enable the creditor to raise 
money now on a debt due some time hence. They 
are thus a credit based upon a credit ; but thai 



MONEY, METALLIC AND PAPER. 129 

credit, being a personal affair, can not be again dis- 
posed of to another, and hence bills of exchange do 
not extend credit beyond their own amount. Checks, 
drafts on banks, and other drafts payable at sight, 
are not in reality forms of credit at all. They are 
received as cash because they represent cash, and 
can be turned into it at any moment. They thus 
serve the same purpose as currency. But the 
real forms of credit do not serve this purpose, 
only as far as they pass from hand to hand in the 
actual payment of debts. They merely have a pur- 
chasing power, not an actual paying power. They 
avail to negotiate exchanges, and hence enhance 
prices, but do not avail for their final settlement. 
Hence, when credit is unduly expanded, the pur- 
chases are too great for the means of payment, 
and consequently failures and financial ruin ensue. 

5. An Interior Money will always displace a 
Superior Money from the Circulation. — Ks al- 
ready stated, a certain amount of money is neces- 
sary in order to carry -on the business of a country. 
And it matters little what be the real value of the 



130 POLITICAL ECONOMY. 

dollars in use, provided their number be not greater 
tban would be required if thej were gold and 
silver. If, now, an inferior medium be introduced 
under the auspices of the government, or some 
controlling money-power in the State, it will neces- 
sarily go into circulation, and will inevitably dis- 
place any superior money already in circulation, 
and prevent any such from coming into circulation. 
The reason is obvious. The superior money is 
more valuable in itself. It has a value of its own, 
independent of its value as money ; whereas, the 
inferior money dependa for its value, whoUy or 
mostly, upon its use as money. And as the worth- 
less money, if not expanded beyond the limits 
indicated above, will answer the same purposes 
as that which has a value in itself — and, if made 
a legal tender, wiU answer many of the same pur- 
poses, even when further expanded — ^it is obvious 
that they will not long circulate side by side. The 
more valuable medium will inevitably be withdrawn 
and put to some use where it will be estimated 
according to its real value ; it certainly will not 
remain where it must be on a par with a really 



MONEY, METALLIC AND PAPER. 131 

worthless or inferior article. If tiie superior money 
be gold and silver, it will be boarded, or shipped 
to other countries, or manufactured into plate, jew- 
elry, etc. We have seen this under our legal-tender 
circulation during the war, and the same thing has 
often been observed in the history of other coun- 
tries. Indeed, under our old system of State banks, 
when the circulation became depreciated through 
undue expansion, as it frequently did, this invaria- 
bly led to speculation, and hence to over-importing, 
and hence to the flowing of gold abroad to pay for 
these imports, and hence, usually, to the suspension 
of specie payments on the part of the banks. 

6. Eesumption of Specie Payments. — In the pres- 
ent inflated state of our currency (1867) every one 
is anxiously inquiring how and when we are to re- 
turn to specie payments. I see but one way in 
which this can be done, and that is by a steady 
and persistent contraction. It may be well for the 
government to husband and even hoard the gold 
it receives for duties; and it should also, in order 
to encourage the introduction of gold more gen- 



132 POLITICAL ECONOMY. 

erallj into business, immediately so modify tlie 
legal-tender act as to authorize special contracts in 
gold ; but while the number of paper dollars in 
circulation is as great as it is at present there is 
no prospect of our being able to accumulate enough 
gold to redeem the surplus of paper oyer what is 
actually needed for the purposes of business. Only 
about three hundred millions of dollars being re- 
quired for the legitimate purposes of business, all 
the currency in circulation which is in excess of this 
amount — and this at the present time must consti- 
tute a sum at least equal to that above named — 
would immediately, were the opportunity offered, flow 
in for redemption, and at once swamp the Treasury. 
A large part of this excess, therefore, must be 
drawn in by the Government, either by taxation or 
the sale of bonds, and destroyed before it can 
resume specie payments. And the banks, of course, 
can not resume specie payments till the Govern- 
ment has done so. The contraction, indeed, should 
not be violent, lest too great a shock be given to 
Dusiness ; nevertheless, it should be persistent and 
at a rate which will permit the resumption at no 



MONEY, METALLIC AND PAPEE. 133 

very distant period. It is vain to. talk of waiting 
till our bonds are at par in Europe. As most 
of these bonds, as far as the acts issuing them 
are concerned, are payable in currency, they never 
can be at par abroad — ^nor at home either in gold — 
till the currency is at par. It is clear, therefore, 
that the only way to specie payments is through 
contraction. Let no one imagine that there is any 
other " natural way," of which we hear so much, 
except this. 



LESSON XV. 

BANKS AND BANKING. 

1. Object of Banks. — The object of banks is to 
concentrate at convenient points, and thus to util- 
ize in the highest degree, that portion of the 
capital of a community which is in the the form 
of money. Money in the pocket of an individual 
is entirely useless ; and as long as it remains scat- 
tered around among individuals, a large part of it 
must be in this useless state. The individual may 
not want to use it himself for some time, and may 
not know of any other man, whom he would be 
willing to trust, who wants it, and hence it must 
continue to he idle. But let all this unemployed 
money be collected together at some convenient 
point, and be intrusted to the management and 
care of a committee or board consisting of the most 
skilful and able of the depositors, and the case is 



BANKS AND BANKING. 135 

at once entirely altered. The lender has no longer 

to spend his time in quest of a borrower, nor the 

borrower in quest of a lender, but they are both 

brought together by the establishment of the bank. 

The borrower now knows where to apply for 

money, and the lender intrusts the loaning of his 

money to the directors of the bank, who make it 

their business to learn the pecuniary responsibility 

of borrowers, and exact good security in the form 

of indorsers, etc. They also furnish themselves 

with the means of keeping the funds intrusted to 

them securely, and with all the other means and 

appliances of banking. Thus the whole business 

of borrowing and lending is greatly simplified, and 

rendered safer and more profitable to both parties. 

2. Kinds of Banks.— If the coin of a town or a 
neighborhood is simply collected together and de- 
posited in a bank for safe keeping, this constitutes 
what is called a hanh of deposit In such a case 
the depositor is credited with the coin in the 
books of the institution, and if at any time he 
wishes to make any payment to another, he simply 



136 POLITICAL ECONOMY. 

draws an order or " check" on the bank and hands 
it to him, which perhaps he in turn deposits wiik 
the bank, and the cashier transfers the amount in 
his books from the former owner to his credit. 
Thus a large part of the coin in the community 
will soon be found lying idle in the bank, pay- 
ments being made almost wholly by checks. But 
the bank, finding the depositors disposed to let 
their deposits remain in its vaults, takes the lib- 
erty of loaning the coin to others, who also, per- 
haps, will let it lie there, and simply draw checks 
against it to make payments with, the money on 
which, in many cases, is not actually drawn out^ 
but left on deposit again. Thus it may safely loan 
much more coin than it actually owns. When it 
has reached this stage, it is called a hanh of discount 
or loufi. But the checks of an indi^ddual would 
not be likely to be acceptable with aU persons and 
in aU places where payments are to be made, and 
in order to meet this difficulty, the directors of the 
bank prepare notes or "bills," which obligate the 
bank to pay on demand, in coin, the sum they rep- 
resent. These bills, signed by the president and 



BANKS AND BANKING. 137 

cashier of the bank, have more of a public char- 
acter, and hence will be much more generally 
current than the private checks of individuals. 
Banks under this form are called hariks of circular 
tion; they still continue, however, to receive de- 
posits and pay the checks of depositors, as under 
the previous forms. 

3. OKaAinzATiON OP Banks.— Banks are thus a 
natural and necessary growth in the progress of 
the business of a country. Their importance, how- 
ever, as having control of the money of a com- 
munity, makes it necessary that they should be 
strictly guarded by law. Their privileges and their 
obligations must be clearly defined. Under our 
former system of banking, this was done by char- 
ters granted to each bank by the several States. 
These charters, together with certain general laws 
of the State, fixed the value and number of the 
shares, the manner in which the funds were to be 
paid in, the number of directors, the mode of or- 
ganizing for business, the proportion to be main- 
tained between the amount of specie on hand and 



138 POLITICAL ECONOMY. 

their circulating notes, tlie nature and extent of the 
liability of the stockholders to redeem their notes, 
the rates of interest and exchange which they might 
charge, and all other essential points connected with 
the business. But under our present national sys- 
tem of banking, the privileges and responsibilities of 
banks are defined in a general law of Congress. 

By this law, the banking capital of the coun- 
try is fixed for the present at three hundred mil- 
lions of doUars ($300,000,000), and definite por- 
.tions of it are assigned to the several States. And 
within these limits, any number of persons, not less 
than ^ye, may organize themselves as prescribed 
in the law, for banking purposes, and, on depositing 
with the Secretary of the Treasury, at Washington, 
United States bonds to the amount of at least one 
hundred thousand dollars ($100,000), may be al- 
lowed by the controller of the currency to enter 
upon the business of banking, with bills which he 
is to furnish them at the rate of ninety thousand 
doUars for every one hundred thousand doUars of 
bonds which they deposit, thus fixing definitely 
the amount of their issues. The bonds deposited 



BANKS AND BANKING. 139 

are to be kept in trust for the banks, and as 
security for their bills ; the interest on them, how- 
ever, is to be paid oyer to the banks semi-annually, 
provided their management is satisfactory. The 
law also requires that they shall redeem their bills 
in lawful money, fixes the rate of interest and ex- 
change which they may charge, the taxes to which 
they are hable, the reserves which they are to keep 
on hand, and all other essential details. Under 
this law the bills must all be good, even though 
the bank fails, since they are secured by United 
States bonds, deposited at Washington. Any over- 
issue of notes, too, is prevented, and thus a much 
steadier money-market secured than under the 
former system of State banks, 

4. Pkofits of Banks — The profits of banking, Hke 
the profits of any other kind of business, depend 
very largely upon its management. While one 
man succeeds in a given kind of business, another, 
under precisely the same circumstances, will fail; 
and all for the want of economy and shrewdness in 
management. But there are certain regular sources 



140 POLITICAL ECONOMY. 

of profit in banking which may be easily pointed 
out. Under the present United States banking law, 
there is, in the first place, the semi-annual in- 
terest -on their capital, which is in the form of 
United States bonds deposited, at Washington. 
This being paid in gold, amounts at the present 
time (1867), in currency, to about eight per cent. 
Besides, the law allows the banks to take the 
rate of interest authorized by the laws of the State 
where they are located, together with the cus- 
tomary rates of exchange, where they furnish drafts 
on other cities. And as this is all paid at the 
time the note is given, it bears interest from that 
time, and hence is better than compound interest; 
this, in a large bu.Biness, amounts to considerable. 
Banks, too, have more or less money deposited 
with thiem for safe keeping, — ^in large cities an 
amount, in many cases, greater than their circu- 
lation. And as a certain proportion of this is 
sure to remain on hand, they can loan this, and 
thus get a profit from it. These are the regular 
sources of profit to banks, which are diminished, 
however, to a certain extent, by the losses on loans, 



BANKS AND BANKING. 141 

the expense for a bank building and fixtures, by the 
salaries of officers, the State and United States taxes, 
and the necessity of redeeming their bills at certain 
points ; which latter expense, however, may be great- 
ly diminished by skiKully managing the circulation 
of the bank so as to keep its own bills, as far as 
possible, away from the points where they are to 
be redeemed. Indeed, under the present system 
of banking, there is httle need of any redemption 
at all, since the bills of every bank are equally 
current all over the Union, and " greenbacks" are 
no more valuable than the national currency. 

5.' GoYEENMENT AND PEivATE BANKING. — Our pres- 
ent national system of banking is not a system 
of government banking, although it rests wholly 
upon the government credit. It is to all intents 
and purposes a system of private banking, — a 
scheme for utiKzing the public debt, by making 
it, in the hands of the people who hold the debt, 
the basis for banking. A government bank, on 
the contrary, is a bank with special privileges over 
other banks guaranteed to it by the government, 



142 POLITICAL ECONOMY. 

like the old United States Bank, tlie Bank of 
England,^ or the Bank of France, in which the 
government is a stockholder and the chief patron. 
Of such a bank the government not only borrows 
largely, but collects its revenue through it, and trans- 
mits its funds from one part of the country to an- 
other by its agency. In a still more literal sense the 
government goes into banking, when it issues bills 
directly for the circulating medium of the coun- 
try, as has been done by our government during 
the late war. The legal-tender notes are issued 
directly from the Treasury Department of the 
United States, and to this extent the Treasury^ 
has become a banking institution. Kow, as the 
control of the money of a country, by putting out 
more or less according to the real or fictitious 
wants of the government, is a most mighty influ- 
ence, when it is in their hands it will inevitably 

* The Bank of England, however, is more like our present sys- 
tem of national banking. It differs from it in being a single 
corporation, privileged above other banks in the kingdom by 
being the fiscal agent for the government, and having almost the 
sole right of issuing bills for circulation • but its capital, like oar 
banks, is aU invested in the public funds 



BANKS AND BANKING. 148 

be used for political purposes, and hence is incom- 
pafcible with, free institutions such as we enjoy^ 
as well as with the just demands of business, by 
which it is not at all controlled. 

It is to be hoped, therefore, that the present gov- 
ernment circulation, now that the emergency has 
passed which called it forth and justified it, will be 
withdrawn as speedily as possible. Then there will 
be left, as the fruit of the war, our system of nation- 
al banking, which is certainly a great improvement 
on our former system of State banking. Ex- 
perience, doubtless, will suggest various improve- 
ments in the details of the system, but its general 
principles, I am persuaded, are correct. And when 
specie payments shall have been resumed, it may 
well be extended, so that any man or set of men 
who shall deposit with the Treasurer of the United 
States a hundred thousand dollars or more in 
United States bonds, and make provision for re- 
deeming their bills in specie, shall receive therefor 
from the Treasury ninety per cent, in currency, 
which they shall be authorized to circulate and 



144: POLITICAL ECONOMY. 

use as money. Tlien banking, like other kinds of 
business, will be/ree, and will regulate itself. 

6. Eedemption of Biuls by Banks. — Tlie Na- 
tional Currency Act requires tbat the banks organ- 
ized under it shall redeem their bills at their 
counters on demand in " lawful money." This 
lawful money at present is legal-tender notes ; but 
after the legal-tender act shall have been annulled 
and specie payment been resumed, the legal money 
wiU be specie. Besides, these banks are required to 
redeem their bills in certain cities designated in the 
act, and for this purpose to keep deposits of legal 
money with such banks as they may elect in those 
cities. This is designed as a continual test of the re- 
sponsibility of the banks, since their biUs naturally 
flow into certain cities in. the way of trade, and must 
there be redeemed without the demand of any 
particular person. And to settle balances between 
the banks of a city, they have what are called 
"clearing houses," where aU the checks drawn on 
each of the banks, and passing in the course of 
business into other banks, are sent daily for re- 



BANKS AND BANKING. 145 

demption. These checks are there assorted and 
set off against each other as far as they go ; 
those banks that are found to have sent in a less 
amount in the checks of any other bank than 
that bank has against them, being required to fur- 
nish the money to settle the balance. This is a 
great convenience, saving the use of the amount 
of money represented by the balanced checks, and 
securing the daily redemption of these checks. 
The Mils of other banks also might be brought 
into the clearing house by each bank, and there be 
set off against each other, and balances redeemed 
in like manner. 

7. The Secukity of Banks. — Under our present 
system of banking, the bill-holders are amply se- 
cured from ultimate loss by the bonds deposited 
with the United States Treasurer at Washington. 
If the bank fails to redeem its bills, these bonds 
are pledged to redeem them. Indeed, one of our 
national banks can fail only by doing a bad busi- 
ness, by getting rid of its bills, either by loaning 
them to persons who do not repay them, or by 



146 POLITICAL ECONOMY. 

fraud. Their danger does not arise from a sudden 
call to redeem their notes in legal-tenders, for such 
calls are rarely made, since the one kind of paper 
is no more valuable than the other. But when 
specie payment is resumed the case will be dif- 
ferent. With but a fourth or fifth the amount of 
specie which they haye of bills, and often with 
large deposits which are liable at any moment 
to be drawn out in specie, any sudden demand for 
gold, as for exportation, must put them to a heayy 
strain, and may compel a suspension. Hence 
some financiers discountenance a return to the 
specie basis at all. But this is only advocating 
a permanent suspension, which must, at least, be 
as bad as a temporary suspension from a failure 
to meet the demand for specie at any time. Oth- 
ers, on the contrary, would have the banks keep 
the same amount in specie which they have in 
biUs. This would enable them at all times to 
convert their bills into coin, but at the same time 
this coin would be entirely useless except in very 
rare crises, and would hence be so much dead 
capital, bringing in no interest. Experience shows 



i 



BANKS AND BANKING. 147 

that, with careful management, a fourth or even 
a fifth of the amount of the capital of a bank 
in coin is sufficient to meet all the demands upon 
it for specie, and hence is aU that need" be kept. 
If all banks had this proportion, thej would be 
reasonably safe. When the circulation is not ex- 
cessive, coin is usually wanted, only to pay for 
goods imported from abroad in excess of our ex- 
ports. And as foreign exchange rises just in pro- 
portion to the amount of this excess, it tends to 
check itself. Our foreign business fluctuates, of 
course, but not more than our domestic business, 
nor on any different principles. 



LESSON XYI. 

CEEDIT. 

1. Ajdvantages of the Ceedit System. — As al- 
ready stated, the effect of obtaining credit is simply 
to postpone tlie payment of debts; and it is to 
secure tbis postponement that it is resorted to. 
Men are naturally bopeful, and have little doubt, 
therefore, that tbey shall be able to meet an ob- 
ligation six months or a year hence, which they 
know they are not now able to meet ; and often 
this hope is not fallacious. To the young man, 
just starting in life and wholly dependent upon 
himself, credit is often a real and a very great ad- 
vantage. If hje has capacity, skill, and energy, he 
can make a much better use of a portion of the 
capital lying comparatively useless in the hands 
of certain living fossils, than they can. In like man- 
ner, also, he may be safely intrusted for a season 



CREDIT. 149 

with the sale of a portion of the merchandise heaped 
up in warehouses or lying idle on the shelves in 
stores. In this, way a young man often gets such 
a start as lasts him through his whole life. How 
many have thus laid the foundation of a future 
fortune ! And, on the other hand, how many have 
suffered through their whole lives for the want 
of such aid at first ! And so, all along through 
the whole course of life, there must be points 
where a little assistance and credit from others 
will be invaluable. All are liable, through miscal- 
culation, unforeseen events, or imtoward circum- 
stances of some sort, to become embarrassed in 
their business, so that they will lose their all unless 
a helping hand is lent them by some one. And yet 
help can be given only through credit. In these 
and the like cases credit is an undoubted good. 

. 2. Disadvantages of the Ceedit System.— The 
credit system, however, is extremely likely to be 
abused, and, as it actually operates in practice, is 
attended with many and serious evils. The very 
hopefulness of men, alluded to in the previous 



150 POLITICAL ECONOMY. 

paragraph, makes it certain that it will be abused. 
Almost every man thinks, that if he could only get 
the means he should be sure to make a fortune. 
Hence all are anxious to obtain credit in some 
form, and, instead of working up slowly and cau- 
tiously, acquiring as they go the skill necessary for 
success, rush into business which they do not un- 
derstand, and in very many cases lose the whole of 
their investment. And so, in general, the custom 
of giving credit, and the facility of obtaining it, 
make men reckless in their personal expenses and 
in their business. Circumstances being made easy 
with them for the present by borrowed money and 
borrowed means, they dash away with but little 
caution or economy, not thinking that all that they 
have belongs to another, and that pay-day will 
soon come. And such being the case, those who 
give credit must charge, on the average, a very large 
interest or profit in order to secure themselves 
against loss. This, together with the direct effect 
of credit in expanding the purchasing medium, re- 
ferred to in a previous lesson, tends to raise the 
scale of prices throughout the whole community, 



CREDIT. 151 

and thus to make products dearer to all con- 
sumers. And as to the sound and sober part of 
the business community, the credit system must 
be an injury to them, since they never can know 
who is solvent and who is insolvent, and have to be 
perpetually on their guard against failures, revul- 
sions in business, etc. It would be impossible, 
indeed, to do any considerable business whoUy 
without credit, but, considering the constant pres- 
sure which must exist for its extension, and its 
effects in rendering business spasmodic and uncer- 
tain, sound business men should endeavor to re- 
strain it within the narrowest possible Hmits. 
Credits should be restrained both in amount and 
in time. Long credits are much more disastrous 
than short ones, since the circumstances of the 
debtor are more liable to change for the worse in a 
long time, than in a short one. 

3. Credii? at Home and Abroad. — ^At first view, it 
would seem to make but little difference, if one is 
to get trusted, whether he obtains the credit at 
home or abroad. Indeed, the advantage would 



152 .POLITICAL ECONOMY. 

seem to be in favor of the foreign credit, since- 
it would furnish for a time the use of so much 
caj)ital additional to our own. This would indeed 
be so, if the credit is not to be had at home. 
But would it not be better still, that the means 
of furnishing the credit on as favorable terms 
should exist among ourselves, and be obtained 
there, than that it should be obtained abroad ? 
This would be giving employment to our own, 
instead of foreign capital, and at the same time 
would put us to less trouble both in obtaining it and 
in repaying it ; especially as, when obtained abroad, 
it would have to be . paid in specie, which would 
tend to derange the circulation. For these rea- 
sons credit will always be obtained at home rather 
than abroad, when it can be obtained as cheaply. 
In this point of view, therefore, obtaining credit 
abroad is a calamity chiefly as it shows a want 
of means at home ; this applies to both goods 
and money obtained on credit abroad. But under 
another point of view, the obtaining of public 
loans of foreign nations is a positive evil, in com- 
parison with obtaining them at home. For, as 



OEEDIT. 153 

all government loans must in the end be paid by- 
taxes, when obtained at home it enables the goy- 
ernment to collect taxes on its bonds in the hands 
of its creditors, as on other property; whereas, no 
taxes can be collected on bonds which are held 
abroad. Besides, a nation is more independent 
and self-sustaining, in proportion as it creates its 
own products and obtains its own credits at 
home. It is greatly to our advantage in all re- 
spects, that, during our late civil war, we were able 
to obtain our funds and create the greater part 
of our war material among ourselves. 

4. Ceedit undeb a depeeciating Cueeenct. — The 
first effect of a depreciated currency is to supply 
men with money, and, if it be a legal-tender, to 
prompt them to pay their debts. For a time, 
therefore, it tends to diminish credits. But as 
under such a currency the prices of all articles 
must rise just in proportion as the value of the 
currency depreciates — whether the depreciation 
arises from additional issues, or from the grow- 
ing distrust of the people — thern is a general rush 



154 POLITICAL ECONOMY. . 

into speculation, or buying up and holding arti- 
cles in anticipation of, or so as to create, by pro- 
ducing a scarcity in the market, a higher price. 
To do this, men must have the use of large sums 
of money, or its equivalent in credit. Accordingly, 
credits increase again very rapidly, cunning and 
adventurous men borrowing all that they can, and 
investing it in articles that are continually on 
the rise, ^or a time aU goes on smoothly. Their 
profits being great, they are able to meet their 
engagements, and others are encouraged to go 
into the same business, till honest industry is well- 
nigh deserted, and a large proportion of the com- 
munity are engaged in buying and selling one 
of the other. Such a state of things, however, 
can not last long, Mther more and more money 
must be issued to meet the continually advancing 
prices of things, tiU it finally becomes so worth- 
less as to lose all purchasing power, or else, the 
currency being gradually drawn in and redeemed, 
prices go down and the speculators are ruined. 



LESSON XVII. 



FINANCE. 



1. FiKST Peinciples of Finance. — ^Finance, being 
tlie art of providing the means for carrying on a 
government or any business, bas to do chiefly with 
money. It is on this account that it has generally 
been considered so inscrutable a subject. To be a 
financier, has usually been thought to require quali- 
fications quite different from those required in the 
ordinary business man. Eaising money, like " rais- 
ing the wind," has been supposed to require some- 
thing of the necromancer's art. In the common 
estimation, financiering is a species of legerdemain, 
which but few either do or can understand. In 
fact, however, there is no more mystery about 
finance than there is about any other business. 
Sound financiering, like sound business of all kinds, 
is only a correct application of the principles of ex- 
change. The exchanges here, to be sure, are 



156 POLITICAL ECONOMY. 

generally on a larger scale, but they are mere 
exchanges after all. 

Now, in making exchanges, men are goyerned 
wholly by a sense of interest. From this it follows, 
that if we wish to obtain money or other articles 
from men, we must offer them something which 
they regard as an equivalent. It is of no use 
to tell them that they ought to consider it an 
equivalent, if they do not actually so consider it. 
Men will be their own judges in these matters, 
and sound financiering accepts their judgment as 
final. Something may be done, it is true, in de- 
ceiving men for a time, but they will -sooner or 
later find out the deception, and after that, their 
suspicions will retard exchanges, more than their 
former confidence facilitated them. A sound finan- 
cier, therefore, will deal only with real values, and 
offer in exchange only real equivalents. 

2. Op the Values which Governments have to " : 
Ofeer in Exchange. — Government produces but a 
single article, and that is protection. But pro- 
tection is exerted through various instrumentalities, 



FINANCE. 157 

such as laws, courts of justice, prisons, ships of 
war, cannon, powder, shot, shells, and other ma- 
chinery and enginery, all operated by numerous 
human agents. Protection, then, exerted through 
these different means, is the one thing which the 
government has to offer the people in . exchange 
for their money or other valuables. And when 
the protection is economically and efficiently ex- 
erted, it is not only a real value, but the highest 
of all values, since without it other things would 
be of little or no value. It is for this, then, that 
contributions in the form of taxes are demanded in 
exchange, and cheerfully given by all who have any 
just sense of the value of the service rendered. 
But an extravagant or unjust government, not 
daring to appeal to the people to pay its expenses 
in the form of taxes, may resort to other means 
for raising a revenue, such as forced loans, or is- 
suing adulterated coin, or paper money, which it 
requires the people to take at the same value as 
though it were genuine money. Or, in time of war 
— when the government, being the great employer, 
has to use the money ordinarily used by many 



158 POLITICAL ECONOMY. 

employers — a really just but timid government, in- 
stead of calling upon tlie people for the increased 
taxes which are necessary to meet the increased 
expenses, may resort to loans payable at some fu- 
ture time, and issue bonds accordingly bearing a 
certain rate of interest, and payable in a certain 
number of years. It now offers these in exchange 
to the people, in order to raise the money to meet 
the enlarged expenses ; not, indeed, exacting dollar 
for dollar for their face-value, but only what the 
people are willing to give. Thus a government 
may offer in exchange for the necessary means of 
its subsistence, not directly valuable services, but 
indirectly, either adulterated or depreciated money, 
or forced or voluntary loans. 

3. Op Papee Money and Voluntaky Loans as 
Financial Measukes. — Of these various expedients 
to avoid taxation, none are sufficiently reputable 
to require consideration here, except paper money 
and voluntary loans. And as both these means 
were resorted to very largely during our civil 
war lately closed, it is proper that their value as 



FINANCE. 159 

\ 

financial measures should be briefly indicated. To 
offer " greenbacks" in payment of debts previously 
contracted, was plainly not offering an equivalent, 
and hence the passing of the legal-tender act was not 
only a violation of good faith, but bad financiering, 
For future contracts it was of no avail, since they 
would be made in full view of the value of the money 
they were to be paid for in, and mth all the greater 
distrust of its value, from the bad faith which had 
been exhibited in using it to pay off debts which had 
been contracted when paper money was as valuable 
as gold. The government thus had to pay much 
higher for every thing which it bought, and at the 
same time, instead of avoiding taxation, v/as really 
collecting a most onerous tax of the people, through 
the depreciation of the currency in every hand 
which it passed through. And besides, when the 
currency is redeemed, this tax, with enough addi- 
tional to pay the remainder, will have to be col- 
lected over again. 

As to the bonds, which the government has 
issued so largely, as the principal of them aU, 
with the exception of those known as 10-40's, 



160 POLITICAL ECONOMY. 

f 

is payable — as far as any thing in the acts is- 
suing them is concerned — ^in legal-tender notes,* 
they have suffered from a like depreciation with 
the currency ; so that, while they bear six per cent, 
interest in gold, their gold value, at the lowest 
point of depreciation, was but about forty cents 
on the dollar — ^making the interest paid by the 
government, estimated in gold, some fifteen per 
cent. How much better it would have -been to 
have raised the means necessary to carry on the 
war by taxation ! Then, not only would this great 
loss from depreciation have been avoided, but hun- 
dreds of millions besides would have been saved, 
by the greater economy in the conduct of the war, 
which would have been enforced by the people, who 
were required themselves to practice the greatest 
economy in order to meet the taxes. And if it be 
said, that the people could not have met these taxes, 
it is sufficient to reply, as has already been done 

* It is true that these bonds were sold, under tlie assurance 
from the Secretary of the Treasury and his agents, that they 
would be paid in gold ; and hence there is a moral obligation 
that they should be so paid ; and I have but little doubt that 
they, will be so paid. 



FINANCE. 161 

once before, that they were just as able to meet 
them as they were to fight the battles. It would 
only have been necessary, that the men who stayed 
at home during the war and made money should 
have contributed their gains, or a portion of them, 
to furnish and support those in the field, thus 
sharing with them the sacrifice. 

4. The National Banking System as a Financial 
Measuee. — Of the National Currency Act, as a mere 
system of banking, I have already expressed a fa- 
vorable opinion ; but as a financial measure during 
the war, it is justly open to criticism. As the cur- 
rency was to.be based upon United States bonds, it 
was advocated chiefly as a means of absorbing these 
bonds, and thus creating a demand for them. But 
this, surely, will not be considered much of an ad- 
vantage, when we reflect that on every hundred- 
dollar bond purchased by the banks, the government 
not only pays them six per cent, interest in gold, 
but surrenders to them the privilege, to which it was 
entitled itself, of issuing ninety dollars in currency, 
which tends to depreciate the whole currency of the 



162 POLITICAL ECONOMY. 

country, just as mucli as tlie issue oi the same 
amount in " greenbacks" would have done ; thus 
defeating the only object of selling bonds at all, 
instead of issuing bills; viz., the contraction or 
drawing in of a like amount of the currency. 
Hence, had the government, instead of authorizing 
these banks, issued the same amount of its own 
currency, in addition to the large amount which it 
already had out, it would have done no greater in- 
jury to the currency of the country, and would have 
saved itself the interest on the three hundred 
milhons of bonds on which the national currency 
rests. And then, at some period after the close of 
the war, when the country was prepared to regulate 
the currency, the same system of banking might 
have been estabhshed on United States bonds, sold 
for that purpose ; which, with suitable taxation, 
would soon have absorbed the "greenbacks," and 
left the field to the national currency. The govern- 
ment itseK being at stake, it was clearly entitled, for 
the time being, to the entire privilege of banking, 
and should, therefore, at once have taxed the old 
State banks out of existence, and issued itself all 



FINANCE. 163 

the money whicli tlie country required. This would 
have been a loan from the people for their benefit, 
and without interest. 

5. The Lessons in Finance Taught by the War. 
— It is not to be wondered at that in so great a con- 
flict, and with so little experience in such matters, 
some mistakes should haye been made. "We have 
reason to be grateful that we have come out of it so 
little harmed financially, and also, in other respects, 
as we have. It is the part of wisdom, however, to 
derive aU the profit we can from those terrible 
events. And first, we learn from our experience 
during these last few years, that sound financier- 
ing is no mere system of cunning devices for deceiv- 
ing the people in money matters. If this would 
have produced a. revenue cheaply and successfully, 
we ceiliainly should have had it. All forms of in- 
debtedness have been issued by the government, 
consisting of legal-tender notes, treasury notes, 
bonds of every form, certificates of indebtedness, 
etc., exchangeable one for the other, and redeem^ 
able one in the other j but after all, they have not 



164: POLITICAL ECONOMY. 

been kept from depreciating. Tlie people have 
peered through all these devices, quickly discerning 
that one paper .promise is not at all strengthened 
by another promise, or fifty others, to the same 
effect, and made by the same party. Hence we 
learn again, that real values are the only values to 
be rehed upon, whether in great or small opera- 
tions. At times, perhaps, during the war, there 
might have been some ground for doubting our suc- 
cess, and "hence our abihty to make good our 
promises to pay. But even now, after our success, 
these promises to pay are still depreciated, simply 
because no present means of paying them in real 
values is provided. It is of no use for us to talk of 
our undoubted ability to pay, as long as we are not 
ready to do it now. And hence, once more, we see 
that nothing but large taxes will keep up the credit 
of a government which is making large expenditures. 
We may not like taxes, and may resort to various 
devices- to avoid them, but they must come at last, 
and all the more oppressively the longer they are de- 
ferred. They are the only means a government has 
of really paying its expenses, and must, at least, be 



FINANCE. 165 

sufficient to meet the interest and a portion of the 
principal of its indebtedness, in order to keep its 
promises to paj from ruinous depreciation. 

6. Oedinaky Financieeing. — The same principles 
apply to financiering on a more Hmited scale, as 
practiced in ordinary business. An individual, like 
a government, if he would be able to command 
money when he wants it, and at reasonable rates, 
must keep his credit good. And the only way 
of doing this is to return real equivalents for 
the sums borrowed, and at the time agreed upon. 
Such a course, in the long run, wiU be • much 
more successful than artful management and cun- 
ning deception. A good financier always looks 
ahead. He is to provide means for the business 
in hand, whatever that may be— and not for the 
present merely, but for the future. The whole 
spirit of his calling is prospective, leading him to 
anticipate the future and provide for it, which, as 
already stated, can be successfully done, for any 
length of time, only by perfect fairness and honesty 
of dealing. 



LESSON XVIII. 

INTEREST. 

1. Peopriety of TAKiNa Interest. — Loaning 
money is a temporary exchange, and, like all ex- 
changes, is made for the sake of profit. The 
person who loans money does not, indeed, thereby 
relinquish his ownership of it. On the contrary, it 
is still regarded as his. He may be taxed for it, or 
it may be seized by a creditor; but the control of -it 
for the time specified in the contract has passed 
from hini to another. He gives up the use of it 
for a longer or shorter period, and what does he 
receive in return? There is no exchange unless 
there is some return. This return is called interest. 
And that it is perfectly proper and legitimate to 
take such a return for the use of money is obvious. 
First, because it is freely offered in exchange for it. 
If the exchange is made on the one side for profit, 



INTEBEST. 167 

it is equally so on tlie other. If tlie man who loans 
the money does so for the sake of the interest, the 
one who receives it wilHngly pays this interest for 
the sake of its use. And where both sides consider 
themselves benefited, it must be considered as a fair 
exchange. Again, money is property, possessing a 
real value, and representing so much labor. It 
costs its possessor something, therefore, and ought 
to bring him something in return. And if the 
transfer of its absolute ownership would be the 
transfer of a certain value, which would deserve a 
certain equivalent, then the transfer of its owner- 
ship, or its use, for a few months, or a few years, 
deserves a proportionate return. Again, the money 
in the hands of the owner gives him a certain 
advantage in production. He can produce more 
by its use than without it. If he uses it himself, 
therefore, it yields him a given profit, and it ought 
to, certainly, if its use be transferred to another. 
Or the money in the hands of the owner may be 
regarded as representing the means of a certain 
amount of personal indulgence or enjoyment, from 
which he voluntarily abstains when he loans the 



168 POLITICAL ECONOMY. 

money to anotlier, and should therefore receiye 
some compensation for his abstinence, 

2. "Why fix the bate pee cent, oe Interest? — 
As no attempt is usuaUj made to ^^ by law the 
rates at which other things shall be exchanged, the 
question naturally arises, why such an attempt 
should be made and persisted in to the present 
day, in many countries, in regard to the exchange 
of the use of money. There must be some sem- 
blance of a reason for this, at least. Money is still 
regarded by most men as materially different from 
other articles of property. It was formerly consid- 
ered as the sum of all values, and something of this 
feeling stiil remains. As money is the medium of 
exchange, its need is felt in nearly all exchanges; 
and hence, if one has no money, though he has 
other articles in the greatest abundance, he finds it 
difficult to make exchanges. Hence, on a super- 
ficial view, money does seem to be a more essential 
article than any other, and hence to require some 
special pubHc regulation. But if one has an 
abundance of other articles, he need not be in" 



INTEEEST. 169 

want of money, since lie can always trade off these 
articles for money. Hence one may always have 
money, just in proportion as he has other articles 
of value.. But may not the poor, those who have 
little or nothing to exchange off, be oppressed un- 
less the price for the use of money be JS.xed ? 
Doubtless they may be, and equally so if it be 
regulated. If one has but few valuables of any 
kind, his credit must surely be poor, and capitahsts 
are not very likely to loan to such men at any rate 
— certainly not at the low legal rates. The mis- 
fortune of such men is that they are poor, and there 
is no help for them but charity ; and when you 
come to this, you have left the sphere of business. 
Agricultural communities, Hke ours, are naturally 
jealous of trade and of the influence of money. 
Making but a small percentage themselves from 
their business, and often being obhged to mortgage 
their farms to raise money to carry them on with, 
they are sure to favor low rates of interest, and the 
estabhshing of these rates by law. But as money 
accumulates, and its functions become better un- 
derstood, usury laws disappear from the statute- 



170 POLITICAL ECONOMY. 

book, as they have in England, Holland, and othei 
commercial countries. 

3. Usu:&Y Laws are Anomalous, Useless, and 
OFTEN Pernicious. — Usury laws are laws fixiag the 
rate of interest. Such laws are anomalous, because 
no such restrictions are laid upon any other ex- 
changes. The absurdity of restrictions on the 
exchanges of most other articles is, indeed, quite 
too obvious not to strike every one. The value 
of com, lumber, wool, etc., varies so much at dif- 
ferent times and in different places, that every one 
sees that it would be unjust to &k the rate at which 
they should be exchanged for each other or for 
other articles. The value of money, to be sure, is 
much steadier. It fluctuates the least of any article. 
But yet it does fluctuate ; if it did not it would not 
be necessary to fix the rate of interest, as that 
would always be uniform. And if it be more valua- 
ble at one time and in one place than in another, 
then it is plainly unjust to fix a uniform rate of 
interest for its use. And at the same time, such an 
attempt is useless and of no avail. It is notorious 



i 



INTEEEST. 171 

that no attention is paid to usury laws by either 
borrowers or lenders of money. The penalties of> 
forfeiture, etc., for violating the law are entirely 
anavailing, since the borrower, who should enforce 
the forfeiture, would never be able again to obtain 
accommodation at any of the banks, or with any 
of the private money-lenders where it was known. 
Finding enough persons who will give them their 
price for their money cheerfully, money-lenders will 
not be hkely to accommodate those who not only 
grumble at their terms, but are disposed to take 
advantage of any illegality in the rates charged. 
Or, if they do accommodate them, they will be sure 
to protect" themselves by some of the many devices 
resorted to in such cases, as by taking the interest 
at the time the loan is made, or the like. 

Usury laws, therefore, while they are entirely 
unavailing, are decidedly immoral in their tenden- 
cies. The constant violation of them corrupts 
the conscience and habituates men to the viola- 
tion of law without compunction. At the same 
time, as far as they have any effect, they are 
harmful to money-borrowers. Many men, who 



172 POLITICAL ECONOMY. 

now use their money themselves, would be wiUing 
to loan it if they could legally receive for it 
what they consider its fair value. Hence many 
men of enterprise and energy, who could use 
money to the greatest advantage, are deprived 
of it by the operation of usury laws. It is 
high time, therefore, that these laws were swept 
from our statute-books. Or, if retained in any 
form, they should merely &x the rate of interest 
where no particular rate is agreed upon between 
the parties. 

4. High and low Kates of Inteeest. — If interest 
were allowed to regulate itself, the charge for the 
use of money would rise and fall, like other articles, 
with the supply and demand. Indeed, as it is, it 
does so rise and fall. "We see every day, in the 
newspapers, quotations of rates of interest in our 
cities, utterly at variance with the usury laws which 
exist there. One circumstance which affects the 
rate of interest is the risk in the case. Where the 
risk is great, but few persons are willing to loan at 
aU, and hence the amount of money available in 



INTEEEST. 173 

such cases is small, and will necessarily secure a 
high interest. Again, the prospect of gain has an 
important influence upon the rate of interest. 
When business is good and there is a prospect 
of large profits, there is always an unusual de- 
mand for money, and the rate of interest wiH be 
high. But the demand for money lessens as the 
hope of gain lessens, and, hence, the rate of interest 
faHs. The rate of interest is higher, too, in new 
than in old countries. Old countries are already 
suppHed, from the accumulations of many years, 
with machinery and other fixtures and improve- 
ments so essential in production; whereas new 
countries have all these improvements to make or 
purchase. Hence there is a greater demand for 
money in new countries than in old ones. At the 
same time, as these various forms of fixed capital, 
and many other articles wanted in new countries, 
are manufactured in the older communities, money 
flows regularly from new to old countries to pay 
for their various manufactures. Hence money is 
plenty in old countries and scarce in new ones, 
and the rate of interest varies to correspond. Ac- 



174: POLITICAL ECONOMY. 

Cordinglj we find the rates of interest mucli higher 
in our Western States than in the Eastern, and in 
the Eastern States than in England. These are 
some of the circumstances which determine the 
rates of interest at different times and in different 
places. 



LESSON XIX 



LAND Am) RENT. 



1. Peopeety in Land. — Some deny the rigM of 
property in tlie soil. As it is a gift of God, with 
all its native properties of production, it is a gift, 
they say, to the race, and not to particular individ- 
uals. But substantially the same is true of every 
thing else. Steam, and iron, and coal are equally 
the gifts of God, but no one, on this account, 
thinks of denying the right of property in steam- 
engines. There is a larger proportion of labor 
required, it is true, in preparing the engine for 
use, than in preparing the land ; but aU land re- 
quires some preparation to make it productive. 
Originally it takes labor to ' discover it, to pros- 
pect it, to inclose it, to clear it, and to subdue it. 
It is thus appropriated, and becomes individual 
property. If the Creator had designed that it 



176 POLITICAL ECONOMY. 

should be the common property of all, he would 
have made it incapable of appropriation, like the 
air and the sunlight. But not being universally 
diffused, and not coming, like these bounties of 
heaven, with all its blessings, to each man's door,— 
the same to each and to all, — ^it has to be sought 
out and prepared for use, which gives one a title 
to it. The earth, however, was made to be tilled^ 
not simply to be prospected and inclosed by corner- 
stones and imaginary lines. This mere plotting 
out of land, as evidence of possession, is a sort 
of paper blockade to keep others off, and should 
no more be allowed than paper blockades of ports 
are allowed by the laws of nations. As the neces- 
sary abode of man, and the original source of all 
sustenance, it should be open to all earnest culti- 
vators, on the principle of " first come first served." 
But when one has actually appropriated, and sub- 
dued and cultivated a piece of ground, or has pur- 
chased it of another who has done this, it is as 
much his property as any thing else. 

2. Ground for Exacting Kent. — If land may bo 



LAND AND EENT. 177 

rightfully appropriated and become one's property, 
then something may be demanded for the use of it, 
the same as for the use of money, or any other 
property. It cost the owner something, and gives 
him a certain advantage in production, which of 
course he will not relinquish without some consid- 
eration. Rent, therefore, is the consideration given 
for the temporary use of the beneficial qualities of 
land. Eent, then, must generally be in proportion 
to the valuable qualities of the land rented. The 
price of produce in any community must alway sbe 
determined by the least return made by any of the 
land under cultivation, in proportion to the labor 
and capital bestowed in raising and delivering it in 
market. Those who occupy the better lands, being 
able to sell cheaper than those who occupy the 
poorer lands, will run down the price of produce, by 
underselling the less favored producers, till it reaches 
the lowest point at which the occupants of the poor- 
er soils can live, and there it must stand, varying- 
only from the influence of supply and demand, as 
there is no motive for reducing it lower. Until, 
therefore, some improvement is made in the meana 



178 POLITICAL ECONOMY. 

of cultivation, soils still poorer, or less favorably sit- 
uated as to market, etc., wiU not be occupied, since 
tbey would not afford a living return. Hence such 
lands will command no rent, and those immediately 
above them in productive qualities, but a slight rent. 
From this point upward, rents will rise in propor- 
tion to the productive qualities of the lands, the 
ease of their cultivation, the favorableness of their 
situation as to market, etc. 

3. The Ketuen eeom JjAmy is not Increased in 

PEOPORTION TO THE LaBOE AND EXPENSE BESTOWED 

IN ITS Cultivation. — ^When land is first taken up, it 
contains in it productive elements which have been 
accumulating for ages. The first object of cultiva- 
tion is, to draw out these elements by breaking up 
the soil, and bringing its nourishing qualities from 
year to year into fructifying relations with seeds, 
roots, etc., which are placed there for growth. At 
-first these qualities are easily reached, as they per- 
vade the whole soil. But as every crop partially 
exhausts them from those portions which are near 
the roots, the soil has to be more thoroughly and 



LAND AND BENT. 179 

deeply stirred eacli succeeding . year, which, occa- 
sions more labor and expense. At the same time, 
there is annually a diminished return. And if, to 
prevent this diminishing return, we procure manures 
and fertilizers to dress the land with, these will 
scarcely more than repay their expense in the in- 
crease of the products. It must be obvious, there- 
fore, that the return in agricultural products can 
not keep pace with the increase of labor and ex- 
pense required in cultivation. Hence it is, where 
land is plenty, as with us, that we see the older 
lands abandoned for the virgin soil of the new 
States. This would not be the case, did the value 
of the product increase in the same proportion as 
the labor and expense of cultivation ; since in that 
case, the old lands might be divided and redivided, 
with the increase of population — it only being neces- 
sary to make a greater expenditure of labor and 
capital, as the portions become smaller, in order to 
realize as much profit as before. Thus a square rod 
of land would be just as good for productive pur- 
.poses as a square mile, which experience shows us 
is far from being the case. 



180 POLITICAL ECONOMY. 

This relative decrease of productive returns may 
be somewliat retarded by new inventions of labor- 
saving agricultural machines, which will save the 
more, of course, in proportion to the amount of la- 
bor which it is necessary to bestow in raising crops. 
Indeed, by the increase of such machines, as well as 
of improved modes and means of cultivation, the 
aggregate returns from the soil, in proportion to the 
labor and expense bestowed, are undoubtedly in- 
creasing from year to year ; but stiU the inequality 
in the returns from new and old soils continues. 

4. La^id is moee Peoductive when Cultivated by 

ITS OWNEES in MODEEATE-SIZED FaEMS THAN WHEN 

Cultivated in laege ones. — The chief advantage 
of conducting any business on a large scale arises 
from the division of labor and the use of machinery 
in the different processes. But agriculture admits 
of division of labor and the use of labor-saving ma- 
chinery the least of all employments. One man 
can not give himself wholly to sowing, another to 
mowing, and another to harvesting, but each man 
must perform all these processes : otherwise he will 



I 



LAND AND EENT. 181 

be obliged to remain idle the greater part of the 
year. Hence farming on a large scale is not to be 
compared with manufacturing on a large scale. 
Whatever advantages there may be in large farm- 
ing, thej are more than counterbalanced by the 
peculiar advantages of small farming, conducted by 
the proprietors. Large farms must be worked 
chiefly by hired labor, under the superintendence of 
overseers who are also hired ; while small farms may 
be wholly managed, and in large part worked, by 
their owners. And all know the difference between 
the labor which is stimulated by personal interest 
and hope, and that stimulated simply by wages. 
There is a spirit, an elasticity, and a persistence 
about it to which hired labor is an utter stranger. 
There is a universal desire to possess a portion of 
land. It is our "mother earth," and when one has 
been able to appropriate a portion of it as his prop- 
erty he treads it with a conscious pride. He seems 
now to rest on a solid foundation, and he spares no 
labor or pains to make it secure. Under such a di- 
vision of land each farmer is an independent yeo- 
man, and cultivates the intelligence, the character, 



182 POLITICAL ECONOMY. 

and sense of responsibility suited to liis position. 
So tliat small farms produce not only better crops, 
but better men. This is all abundantly illustrated 
not only in the history of our own country, but in all 
the countries of Europe, where the system of small 
farming remains. Travelers* on the Continent uni- 
versally bear testimony to the industry, thrift, and 
increasing intelligence and manliness of the peasant 
proprietors, in comparison with the farm-laborers on 
the great estates of England, where the law of 
primogeniture interferes with the natural division 
of the soil among many owners. 

* See especially Laiug's travels in the various countries of 
Europe. 



lESSON XX. 

PEOriT AND WAGES. 

1. The kelation op Profit akd Wages. — All 
piuducts are the result of the co-operation of labor 
and capital ; and as each, contributes something to 
the result, each would seem to be entitled to some 
reward. The laborer practices . self-denial in sub- 
mitting to irksome labor, and so does the capitalist 
by foregoing the use of his capital in seK-indulgence 
and employing it in further production. The re- 
muneration of the laborer is called wages, while that 
of the capitalist is calledL profit Profit, however, 
includes not only the remuneration for the absti- 
nence of the capitalist in not using his capital in 
seH-indulgence, but for his risk in engaging in the 
particular business .in which he has embarked his 
capital, and his time and exertions in superintend- 
ing that business. The profits of any business. 



184 POLITICAL ECONOMY. 

then, sliould be equal to tlie interest on the capital 
. employed, taking into the account the risk incurred, 
together with a suitable compensation for superin- 
tendence. The wages, on the other hand, must be 
sufficient, at least, to support the laborer for the 
time being, . together with those dependent upon 
him, and should also include some provision for 
sickness, old age, etc. And as the capitalist, be- 
sides the permanent investments in his business, has 
only to pay for the labor employed, profits have 
been called the leavings of wages. The higher, then 
wages are in any given case, the less wiU be the 
profits. But by high wages, must be understood 
wages which are really high in relation to the labor 
performed and the cost of Hving, or the value 
of money, or, more briefly, a high cost of labor. To 
speak more accurately, then, the profits to the cap- 
italist will be less, the higher the cost of labor. 
Yery efficient labor may be cheap at a high price, 
and any labor may be cheaper at a high price, when 
money is plenty and depreciated, than at a low price, 
when it is scarce and dear. 



PROFIT AND WAGES. 185 

2. The Cause of Peofit.— On this point I gladly 
transfer to my pages a very luminous passage from 
Mill's "Principles of Political Economy:"^ "The 
cause of profit is, that labor produces more than is 
required for its support. The reason why agricul- 
tural capital yields a profit is, because human beings 
can grow more food than is necessary to feed them 
while it is being grown, including the time occupied 
in constructing the tools and making alP other need- 
ful preparations; from which it is a consequence, 
that if a capitalist undertakes to feed the laborers 
on condition of receiving the produce, he has some 
of it remaining for himself after replacing his ad- 
vances. To vary the form of the theorem : the 
reason why capital yields a profit, is because food, 
clothing, materials, and tools last longer than the 
time which was required to produce them ; so that 
if a capitalist suppHes a party of laborers with these 
things on condition of receiving all they produce, 
they will, in addition to reproducing their own neces- 
saries and instruments, have a portion of their 
time remaining to work for the capitalist. We thus 
* Vol. II., p. 509, Amer. ed. 



186 POLITICAL ECONOMY. 

see tliat profit arises, not from the incident of ex- 
change, but from the productive power of labor; and 
the general profit of the country is always what the 
productive power of labor makes it, whether any 
exchange takes place or not. If there were no 
division of employments, there would be no buyiug 
or selling; but there would still be profit. If the 
laborers of the country collectively produce twenty- 
five per cen1;. more than their wages, profits will 
be twenty-five per cent., whatever prices may or 
may not be." 

3. The Peinoiple which deteemines the rate Dp 
Wages. — The price of labor, like the price of any 
thing else offered in the market, is determined by 
the principle of supply and demand. Of the capital 
in any community which is devoted to productive 
employments and ready to be so used, a certain 
portion may be employed in paying for labor, which 
may be called the wages-fund of that community, 
and which, just in proportion to its amount, creates 
a demand for labor. This fund will be greater or 
less ia any community, according to the security or 



PEOFIT AND WAGES. 187 

insecurity of property, and according to the frugal- 
ity or profligacy of the people. Bat be it more or 
less, it constitutes the entire demand for labor. On 
the other hand^ the number of persons in the com- 
munity seeking employment constitutes the supply 
of labor answering to that demand. It is clear, 
therefore, that when the wages-fund in any com- 
munity is small in proportion to the number of 
laborers seeking employment, wages must be low; 
and when large, wages must be high. This is the 
single principle which governs this whole matter. 
The wages-fund, while it remains the same, presents 
the same demand for labor at one time as at a» 
other, and hence the wages of laborers, the supply 
remaining the same, wiD. not be enhanced by good 
business, high prices, or dear food ; or, if great 
profits do enhance the wages of the laborer, it is 
only as they increase the wages-fund. As to the 
variations in the wages of those engaged in differ- 
ent employments, these, too, are determined by the 
same principle of supply and demand. Great tal- 
ents, great skill, and great integrity, being rare 
quaHfcies, are always in great demand, and hence 



188 POLITICAL ECONOMY. 

command higli wages. So, the number of persons 
who are wiUing to engage in certain kinds of diffi- 
cult, disagreeable, or unpopular employments being 
small, such employments secure larger pay than 
those to which there is no such objection. On the 
contrary, women, being confined by custom to a 
limited number of employments, naturally receive 
small wages. 

4. Eemedies foe low "Wages. — The profits of the 
capitalist being so much greater than those of the 
laborer, the laboring class are apt to become dis- 
satisfied and restive under the contrast. They think 
but little of the greater outlay and risk of the cap- 
italist, and that even the scanty wages which they 
receive depend upon his being wilHng to make this 
outlay and take this risk. Hence agitation arises, 
and various remedies are suggested and tried, such 
as the following : 

(1). Legal Enactments — Such as fixing the mini- 
mum of wages, or the maximum of the hours of a 
day's work, or furnishing employment for the la- 



PROFIT AND WAGES. 18£ 

borer. Such measures, however, have but little 
effect in ameliorating the condition of the laborer. 
They neither increase the wages-fund nor diminish 
the number of laborers. Indeed, the furnishing 
of employment to laborers by the government tends 
to enlarge the dependent classes, and at the same 
time takes away all motive to earnest industry, by 
making the reward secure, however imperfect the 
labor. It is a species of Communism which cul- 
minated in France in the famous national work- 
shops of Louis Blanc, and was thoroughly exploded 
by their failure. 

(2). Trades^ Unions and Strikes, — Trades' unions 
are combinations among the workmen of the same 
trade or of different trades to assist each other in 
maintaining a certain scale of wages. To accom- 
plish this, they aid each other in various ways, as 
by furnishing transportation to other localities 
where the demand for labor is greater, or furnish- 
ing support to themselves and those dependent on 
them while holding out for higher wages. This is 
all right and proper ; but when they proceed, as is 



1^0 POLITICAL ECONOMY. 

tgo often the case, to intimidating demonstrations 
and persecuting measures toward their employers 
and such members of their own crafts as refuse to 
combine with them, they put themselves in the 
wrong and injure their own cause. It is thus that 
strikes arise, which, by suspending production for 
a longer or shorter period, diminish in the same 
measure the profits, which constitute the wages- 
fund that laborers are to rely upon for future 
employment. Thus strikes are generally a positive 
evil to the laboring classes. 

(3). Co-operative Associations. — In such associa- 
tions laborers combine not only their labor, but 
their capital. By small contributions from each 
member, they secure capital enough to carry on 
some branch of business in . which they are en- 
gaged, or by which they are in some way to be 
benefited. Thus in England, France, Germany, and 
to some extent in this country, laborers have com- 
bined to establish for themselves co-operative 
stores, co-operative banks, and co-operative es- 
tablishments for various kinds of mechanical and 



PROFIT ANB WAGES. 191 

manufacturing operations. These establishments 
are all managed by directors appointed by the 
members from their cwn number and for their 
own benefit. They have been in most cases yery 
successful, and as they tend to give independence 
and manhness of character to those who participate 
in them, and are in perfect harmony with all the 
laws of political economy and social well-being, they 
are justly regarded as one of the most promising 
means of improying the industrial classes. 

(4). Intellectual and Mora- Improvement — ^As the 
capitalist and the laborer are competitors for the 
profits of production, the laborer, as the- weaker 
party, is liable to suffer in the struggle. Hence he 
needs to strengthen his position by availing himself 
of all the aids within his reach. Of these, none are 
more important than intelHgence and manliness of 
character. By the cultivation of these alone will 
he be able to understand and secure his rights. 
Nothing, therefore, is so important to the laboring 
classes as the wide diffusion of popular education 
and sound morality. At the same time, capitalists 



192, POLITICAL ECONOMY. 

should cultivate a spirit of justice and kindness 
toward laborers. Owing their advantages either to 
good fortune or superior abilities, thej should re^ 
gard with kindness — certainly with justice — ^their 
less favored brethren, to whose inferiority, indeed, 
they are largely indebted for their success. It 
should not be forgotten, that, if all persons were 
equally capable and shrewd, while all might be 
comfortably off, there would be no chance for great 
fortunes. 



QUESTIONS ON THE TEXT.* 



LESSON I. 

1. What is political economy, strictly speaking ? What 
idea does the term embody ? What, merely, does it no longer 
include ? What is it the science of, and why ? 

2. What is wealth ? What must be done to objects to fit 
them for gratifying our desires ? Under what four heads is 
the science treated ? How is it proposed to treat it here ? 

3. What is meant by production ? What can we not pro- 
duce ? What can we effect in objects ? Give the illustration. 

4. What is consumption in its most general sense ? Give 
the illustration. What is the relation of production and 
consumption ? Can any thing be destroyed ? When may 
any thing be said to be wasted ? What kind of consumption 
is this called ? 

5. What, then, are production and consumption really ? 
When put to what use may an object properly be said to be 
consumed ? Give the illustrations. What is consumption 
proper, then ? 

* These questions are added to facilitate the use of the book in 
schools, where the want of such aid may be felt. The headings 
of the paragraphs should be given independently as an analysis, 



194 POLITICAL ECONOMY. 

6. WTiat is exchange ? What exchange in kind ? What a 
sale ? What must be considered a part of exchange ? Why 
must there be a perpetual exchange of articles ? 

7. When is there no occasion for distribution ? What do 
most kinds of production require ? What must there be, then, 
in such cases ? What does capital consist of ? Why should 
the capitalist receive a remuneration ? Why the laborer, and 
to what extent ? What does political economy treat of under 
the head of distribution ? 

8. What principle does political economy assume as its 
basis ? What is built upon this principle, and what follows 
from it ? What is the relation, and what the distinction, 
between political economy and ethics ? How may one be 
benevolent while conducting his business on strictly economic 
principles? 



t 



I 



LESSSON II. 



1. What is an article of wealth ? Upon what does the real 
value of such an article depend ? What is wealth the result 
of, then ? What kinds of objects may constitute articles of 
wealth ? 

2. What constitutes real wealth ? What is said of certain 
desires ? What does this class of desires embrace ? Give the 
illustrations. What, however, are the most fundamental arti- 
cles of wealth ? ' If it be the end of life to get rich, what then ? 
But if not? 

3. What does the mere money-maker consider as costing 
more than it comes to ? When are knowledge, and the like, 



QUESTIONS ON THE TEXT. 195 

wealth in his view ? But why should such objects be consid- 
ered articles of wealth? Give illustrations. Wliat of dia- 
monds, and the like ? In what order should articles of wealth 
be appropriated ? 

4. What objects of wealth are hurtful ? Under what aspect 
does political economy view man ? What is said of the grati- 
fication of certain desires? What is said of certain other 
indulgences? What of the objects which gratify these de- 
sires ? What of wholesome and what of hurtful gratifications ? 
What of desire and what of reason ? 

5. In what form is wealth usually hoarded, and why? 
What does it cease to be in this case ? In what sense, how- 
ever, may it still be considered wealth ? When alone may one 
be said to use his wealth ? When alone is wealth of any avail 
to its possessor, and when to others ? 



LESSON III, 



1. Where are the materials of wealth found ? What may we 
do with these materials ? What is said of the variety and ex- 
tent of these materials ? What has happened in the progress 
of things ? What is supposable in regard to the future ? 

2. What is said of the various forms of earthy substances, 
and of their susceptibilities ? What are all these pervaded 
by ? Into what classes may they be distributed ? What, 
to*\^ever, seems to be the grand end of nature ? Give the illus- 
tration. What do we thus have ? What may we do with 
these objects ? 



196 POLITICAL ECONOMY. 

' 3. What materials of wealth does the water fumisli ? What 
useful properties has it? What useful ingredients has it? 
What useful service may it be made to perform ? 

4. What is not even the air beyond ? What may we extract 
from it ? What may we make the sun, and what the wind, do ? 
How far may these supermundane influences and agents be ap- 
propriated ? What of the effect of luxuries in stimulating to 
exertion ? 

5. What is necessary to make these materials and agencies 
of use ? What, then, is the prime agency in production ? 
Or what, to speak more accurately? What is true even 
of speech, etc. ? 

6. What has man done in production? Give the illustra- 
tions. How were the first simple tools formed? And what 
were these used for ? How alone can animals and machines be 
made to work for man ? What is the service of man, then, in 
production ? 



LESSON IV, 



1. What does the real value of an article consist in ? What 
then, does it depend upon ? What is given, and what changes 
are required? Give the illustrations. What are the native 
properties of objects the ground of, and what is the object 
of all labor? 

2. What do most objects require before they are fitted to 
gratify our desires? What are objects, then, in their native 
state ? What does the market val>.e of articles depend upon ? 
What is said of some, and what of other objects ? Give the 



QUESTIONS ON THE NEXT. 197 

illustration. "WTiat is called the cost, and what the price? 
How does the price vary with the circulating medium.? 

3. "What articles will bear the highest market value ? Give 
the illustrations. Why can not the market value exceed the 
intiinsic value ? 

4. What is the most natural unit of measure in determining 
the value of articles ? What do other kinds of labor require ? 
What must be required in such kinds of labor ? What of edu- 
cated labor? 

5. Under what influence will the value of articles vary? 
What determines the supply and demand ? What constitutes 
the demand for articles and labor ? What, then, if the supply 
is disproportionate to the demand? Why should the price 
rise when the demand is excessive ? Why fall when the sup- 
ply is excessive ? 

6. Wliy can no article long remain at a relatively higher 
price than others in proportion to its cost ? What is the effect 
of greater profits in any kind of business ? Give the illustra- 
tion. When alone can the price of an article long remain 
above the cost of production ? 

7. What are always operating? What is the effect of sa- 
gacity on profits ? Wliat does it anticipate ? What does it 
discover ? What advantage does it give ? Give the illustra- 
tions. What is said of great and rare capacities ? 

8. What are generally necessary to secure the fruits of sa- 
gacity ? How alone can obstacles to success be overcome ? 
How alone can the forces of nature be made to serve us? 
What, then, enables one to produce articles cheaper than 
others ? 

9. What must the price of an article vary with ? When 



198 POLITICAL ECONOMY. 

may eyen a gold and silver circulation become depreciated, 
and prices rise in consequence ? With an irredeemable paper 
circulation, what does the price vary with ? 



LESSOK V. 



1. What does caj)ital include ? What does it embrace, 
then? What are all articles of value, then? What alone, 
then, is concerned in production ? What is on the one side. 
And What on the other ? 

2. What is the first kind of capital named ? Give speci- 
mens. What the second kind? Give specimens. What the 
third kind ? What the last? Give specimens. 

3. What are specimens of unproductive capital ? What is 
the eficct on capital of disuse? What, therefore, does the 
true economist avoid ? What does he do ? Give examples. 
How alone can capital be made productive ? What double 
profit has utilized property ? What interests, then, are bound 
up together ? 

4. What is fixed capital? Give specimens. What change 
does fixed capital undergo ? What does fixed capital do in 
production? What is circulating capital? Why called cir- 
culating capital ? Give the illustration. When does what 
has been circulating become fixed capital ? What, then, is 
fixed, and what circulating, capital? Give the illustration. 
What is the object of every form of production ? What conse- 
quence follows ? 

5. How is money regarded by different economists? How 



QUESTIONS ON THE TEXT. 199 

does money promote production? Why is it really an in- 
strument of power? What change is it constantly under 
going ? When alone does an article reach its final use 
When, then, does money reach its final use? What form 
of capital, then, does money in circulation belong to ? 



LESSOlSr VI. 



1. What alone deserves the name of labor ? What two kinds 
of labor are there ? Which proceeds from the other ? What 
kinds of mental labor do not lead directly to any external 
acts ? What, then, is the utility of such kinds of labor ? Give 
the illustrations. 

2. What two kinds of mental labor are there ? What may 
they be called ? Give the illustrations. What hand-labor 
remains to be done after the mental labor? What is true 
of all hand-labor ? Give the illustration. 

3. To what kind of mental labor does professional labor 
belong ? How do the lawyer and the clergyman exercise their 
function chiefly? What end do they always have in view? 
But what does that end not require ? What is the duty 
of each ? Where, if anywhere, are the external arrangements 
to be found for availing ourselves of their instructions ? How 
does the case of the physician differ ? What may even the 
philosopher do ? 

4. What is always the result of labor ? What is the effect 
of study ? How alone can principles discovered by study be 
rendered available to others ? What arrangement, therefore, 



200 POLITICAL ECONOMY. 

is commonly made with authors and inventors ? Wliat 18 
said of the physical changes produced by labor ? Name the 
changes in different kinds of business. But what must all 
these multiplied changes be ? What kind of change does 
the mechanic and ordinary manufacturer make ? What, the 
farmer and the chemist ? Give the illustrations. What 
change does the merchant make ? Why must transportation 
always be one of the most extensive branches of business ? 



LESSON" YII. 

1. What is impossible for man ? What obstacle does na- 
ture present ? Give the illustrations. What, then, is a matter 
of necessity ? What do the different aptitudes of men lead to ? 
What do we find, therefore ! 

2. What of the division of labor thus far described? What 
leads to a further division ? What is true of almost every 
process ? What is a standing example here ? What does 
experience seem to imply in regard to dividing processes ? 
Why is this the only division known to political economy ? 

3. What is the first saving from division of labor ? What 
the second gain ? How is the* saving made here ? Where 
one performs the several parts of a process, how does the 
performing of one unfit him for performing another ? Give 
the illustrations. What is the third gain ? What incidental 
advantage arises from this ? 

4. What results from the division of processes ? What does 
the operative naturally study ? What often results from this ? 



QUESTIONS ON THE TEXT. 201 

Improved tools being made, -what further improvement is 
made ? How have machines grown up ?. By whom have the 
combinations usually been made ? What, then, is the connec- 
tion of knowledge and practice ? 

5. What is the effect of division of labor ? What the effect 
of this upon consumers ? What must be admitted, however ? 
What comparison shows this ? What does the man who per- 
forms several processes embrace in himself? What is the 
effect of division of labor in harmonizing interests ? What is 
the first limitation of the division of labor ? What the second ? 
What the third ? 



LESSON VIII. 

1. What are natural agents in the most general sense ? 
What does man do ? Give the illustration. What does man 
simply avail himself of ? What could he not do without the 
natural properties of iron, wood, etc. ? What is all ma- 
chinery ? What are more commonly called natural agents ? 

2. What can man of himself do ? What does he first call to 
his aid ? How do these assist him ? What does he next call 
to his aid ? Give the illustrations. 

3. What have we seen ? What is the first advantage of in- 
animate over animate agents ? Give the illustration. What is 
.he second advantage ? How is much time saved by them ? 
What of the loss of life ? What of the expense ? How are we 
-o determine what natural agent should be used in a given 
case ? 

4. What is the object of machinery ? What may it be com- 



202 POLITICAL ECONOMY. 

pared to ? What may we do by it in the first place ? What 
in the second ? What in the third ? Give the illustrations. 
What in the fourth place ? What finally ? 

5. What does labor-saving machinery tend to dispense with ? 
What does it diminish, and what increase ? Why does it 
diminish the price of ai*ticles ? What effect does this have on 
labor? Why need not laborers work as many hours as for- 
merly ? Is the remuneration less than formerly ? What, then, 
is labor-saving machinery ? 



LESSON IX, 



1. What has man been styled ? What is labor to him ? 
What has he a love for, and what not ? What is he wretched 
without, and yet what will he not do ? What, however, will 
he do ? What were we evidently made for ? What shows 
this ? Can our mind and body be as well exercised by way 
of pastime ? Is labor a curse, then, or the disposition of man 
toward it ? 

3. What is necessary to supply our wants ? What prepara- 
tion must be made to avail ourselves of the energies of natuna 
in production ? After this is done, what is still needed 
What necessity, then, is laid upon man ? What is the effec 
of this necessity ? Should this necessity ever be removed or 
interfered with ? What should be the arrangements in re- 
gard to the support of the poor ? How should private aid be 
administered ? 

3. What is the effect of too great want ? What, then, is 



QUESTIONS ON THE TEXT. 203 

necessary besides want ? What is the effect of even a slight 
increase of one's means ? What two directions may this love 
of accumulation take ? What may be said of many of these 
wants ? What wants alone can be gratified in a low state 
of production ? Where must the stimulus to labor stop in 
such a case ? What, then, of these less essential wants ? 

4. What is the object of law ? What does justice have to 
do with largely ? What is the right of property ? What 
of the violation of this right ? Suppose, then, the govern- 
ment is unjust or allows injustice in others ? But where the 
reverse is true, what is the case ? Hence what do we see ? 
What of the cost in the case ? 

5. What laws are often passed by governments ? What 
is the tendency of such laws ? What is the question ? To 
what can no objection be made ? What might, however, be 
said ? But what reply might be made ? When alone can a 
protective tariff be justified ? What has our late war shown ? 
What must be best for all, and why ? What of retaliatory 
duties ? What is* quite evident ? What of the effect of free 
trade upon business ? What must be the effect of protective 
duties ? 

6. What is the effect of a duty upon the price of an article ? 
Give the illustration. What, then, would be cheaper ? What 
does this show the folly of? What, then, should be the 
measure of a duty ? 



LE SSON X 



i. What is the design of taxes ? Whj have any rulera ? 
What do rulers have to do ? What does this require ? When 



204 POLITICAL ECONOMY. 

is it neosssary that the government agents should be greatly; 
increased, and why? Who in justice should pay for the 
services of these agents ? What, however, may government do 
on account of which the people may justly complain ? 

3. What is the schedule of taxes on imports called ? What 
the taxes ? What are specific and what ad-valorem duties ? 
What are direct and what indirect taxes ? What is an excise ? 
By what method are taxes generally raised ? Wliy are indirect 
taxes more cheerfully paid than direct ? Why is not the pur- 
chaser conscious of paying an indirect tax ? What other ad- 
vantage is there in an indirect tax ? What evil is there con- 
nected with it ? But on the whole, which kind of taxes is 
preferable ? 

3. Are the services of government directly productive ? 
Why are they necessaiy ? What, then, do taxes diminish ? 
What is the tendency of taxation ? What, then, are taxes 
really a burden on ? What, then, do we see ? How alone 
can a national debt be paid ? 

4. What is the great problem in laying taxes ? What, then, 
is clear at the outset ? What else is equally clear ? What 
should the next heaviest burden be laid upon ? What should 
be the rule for taxing articles from other countries, and why ? 
On what principles, in short, should the revenue of a country 
be raised ? 

5. Why does the government want a large amount of money 
in war ? How alone can they obtain it ? What of notes 
issued by the government ? In what case is heavy interest 
paid on them ? When do bonds cost a high interest ? At 
what discount were most of our bonds sold during the late 
war ? When and how must this be paid ? What is the only 



QUESTIONS ON THE TEXT. 205 

advantage of raising money by loans ? What of the interest 
in the mean time ? What is the best course here, as in other 
cases ? K a nation can spare men for war, what else can it do ? 



LESSOK XI. 



1. What does all production necessarily destroy ? Give the 
illustration. When alone is the labor of production profit- 
able ? In what two cases is there a loss ? In what other 
cases is there a loss ? Why should it be considered there is a 
loss in these cases ? 

2. Why must labor, to be successful, require intelligence ? 
What kind of changes alone are useful ? What must labor be 
in accordance with in order to be successful ? What, then, 
must we understand ? What is said of some of these laws 
of nature and what of others ? Give the illustrations. How 
far may natural tact and shrewdness make up for a want of the 
knowledge of the laws of nature ? 

3. What is the net gain in any business ? What diminishes 
the profits ? What else diminish profits ? What, therefore, 
is highly important ? Why are not profuse expenditures al- 
ways so much property entirely thrown away ? To whom are 
such expenditures a total loss? What effect does .profuseness 
have even upon those who profit by it ? What do all know 
of such characters ? What, on the contrarj^ is the effect 
of frugality ? What of a dollar saved or wasted ? 

4. What do men generally work for ? Why will one some- 
times work for relatives or the poor ? What effect, then, will 



206 POLITICAL ECONOMY. 

the neglect to enforce the right of property have upon ?abor? 
What does the inefficiency of slave-labor arise from ? Why 
must all community-systems of labor fail ? 



LESSOK XII. 

1. Why does every one have to have some business, espe- 
cially in civilized communities ? What occurs in cities in such 
a state of society ? What are the different occupations of the 
moving mass ? 

2. What is the first thing to be considered in determining 
one's business? What is the case with each one by nature 
and education ? What have some, and what have others ? 
What do men not always find in their business ? What is the 
second thing to be considered ? What is said of some occu- 
13ations, and what of others ? Should such occupations be 
chosen ? What occupations are best ? What is said of get- 
ting a living in certain ways ? What is said of property 
suddenly acquired, and of that acquired by industry and 
frugality ? 

3. Where capital and industry are free, what must be the 
case with regard to the profits of different kinds of business ? 
What, however, will energy, skill, and means enable one to 
do ? Can they retain their advantage permanently ? What is 
the tendency ? In what kinds of business are the gains 
slower ? What, however, are they not attended with ? What 
results from this ? What attracts a higher order of talent ? 

4. What naturally teads to different employments? What 



QUESTIONS ON THE TEXT. 207 

is important to a nation ? Under what state of things is the 
intercourse of men more improving ? How do variety of em- 
ployments better meet the ends of true economy ? What is 
the effect of one kind of industry upon another ? Give the 
illustrations. What, however, places a limit to the kinds 
of business in any country ? What is the case in our country ? 
5. What must vary with production ? What of the sea- 
sons ? Why do bountiful seasons make all kinds of business 
good ? What of unpropitious seasons ? What stimulants 
of business are named ? What usually follows such stimu- 
lants ? What is true of business ? 



LESSON XIII. 

1. Why must exchange ever be an important department 
of business ? If an article is not in our possession, does it 
matter whether it is near or far from us ? What would be the 
consequences if there were no accepted medium of exchange ? 
What is this exchanging one article directly for another 
called ? In what kind of communities may exchange in kind 
exist ? To what must it be inadequate ? 

3. In the progress of things, to what do the inconveniences 
of exchange in kind lead ? What articles have, in turn, 
served for a circulating medium ? Why called a circulating 
medium ? Why do men agree upon some medium of ex- 
change ? What, however, does the principle of exchange 
still continue to be ? Give the illustrations. What is the 
only exception ? What is the representative article hence- 



208 POLITICAL ECONOMY. 

forth devoted to ? What do men of means now do ? How 
do we now obtain what we want ? How does the trader re- 
ceive his compensation for the service he does us ? 

3. What do men trade for ? Where will men always trade ? 
When the laws of trade are not interfered with, what happens ? 
How are they often interfered with ? How do governments 
often do this ? What are the consequences of the attempt ? 
How are exchanges continued, if continued at all ? What is 
true of trade, then, as of every thing else ? 

4. What ha^Dpens to most articles in the course of pro- 
duction ? Give the illustrations. What frequently happens ? 
When this happens to most articles, what does it greatly 
increase ? What proverb do we sometimes hear quoted with 
approbation ? What does such a state of things always 
indicate ? How has it been during our civil war ? Describe 
the state of things and its effects. 

5. How can not all our wants be supplied ? What is true 
of many articles in common use ? How alone can these arti- 
cles be obtained ? In what two ways may we pay for 
imported articles ? In what sort of values must they always 
be paid for ? If we do not ourselves produce the articles 
which will be received in exchange for the articles which we 
import, how can we pay for them ? Give the illustrations ? 
If foreign exchanges are profitable, need any other question be 
considered in the case ? 

6. Were the exchanges between different cities and countries 
direct between the same parties, what would the exchanges be, 
and how would they be adjusted ? But as they are not, how 
are they adjusted ? Give the illustration. When the ex- 
changes are equal between two cities or countries, hew may 



QUESTIONS ON THE TEXT. 209 

they all be settled, and how, when not equal ? When is the 
balance of trade said to be against a city or country ? When 
will exchange be high, and why? What has been the case 
during our war ? What can not the rate of exchange exceed ? 
What of exchange on London and Paris ? 



LESSON XIV. 

1. What does the amount of money required in any com- 
munity depend upon, and why? What has already been 
explained ? What is the question here ? What is the an- 
swer ? When gold and silver are the medium, why will 
there not be speculation ? How will the medium regulate 
itself, if gold and silver ? If paper be substituted in place 
of the specie, how much will be required ? What will be 
the effect of putting a larger amount into circulation ? What 
is the estimated amount required in England and in this 
country, and what ratio does it bear to the entire property 
of the country ? 

2. What has been seen with regard to coin ? What is the 
case with paper money ? What does it derive its value from ? 
What is the effect of any excess of it ? In what case alone 
will the depreciation not be in exact proportion to the excess 
of currency in circulation ? When the party issuing the 
notes is considered responsible, from what do they derive 
a part of their value ? But can any mere promise to pay 
at some indefinite future time be kept from depreciation ? 
What, then, does the value of a paper dollar depend upon ? 



210 POLITICAL ECONOMY. 

3. Kow alone can paper money be kept from depreciating ? 
Is it sufficient that it should be redeemable in ordinary articles 
of value ? Why not ? Why are gold and silver always in 
demand? What are they just fitted for, then ? Is any other 
article so well fitted for this purpose ? In what is our present 
paper money redeemable ? Does this keep it from deprecia- 
tion ? What shows that it is not the gold that is worth 
more ? In what cases may even specie-paying notes depre- 
ciate, and how will the depreciation show itself ? 

4. How does currency differ from pure credit ? What are 
the usual forms of credit ? What of book accounts ? How far 
do notes of hand serve the purpose of currency ? What is said 
of bonds ? What of bills of exchange, etc. ? What of sight 
drafts ? What sort of power does pure credit have, and what 
not ? What is the effect of credit on prices ? What follows 
from an undue expansion of credit ? 

5. What has already been stated in regard to the amount 
of money required in a community ? Under what circum- 
stances will an inferior medium go into circulation ? What 
effect will this inferior medium have upon the superior ? 
Give the reason for this in full. If the superior medium 
be gold and silver, what will become of it ? When has 
this effect been seen ? What often happened under our 
old State banks ? 

6. What question is now asked by every one ? How alone 
can specie payments be resumed ? What may the govern- 
ment well do, and what can it not do ? Why ? What of 
the rate of contraction ?• What of the price of our bonds ? 
What is the only natural course, then ? 



QUESTIONS ON THE TEXT. 211 



LESSON XV. 

1. Wliat is the object of banks ? What is said of money in 
the pocket and scattered around among individuals ? But 
when collected together and intrusted to competent manage- 
ment, how is the case altered ? What does a bank effect for 
the borrower, and what for the lender ? What do the direc- 
tors do ? What is thus simplified ? 

2. What constitutes a bank of deposit ? How does a de- 
positor avail himself of his deposit to make payments ? 
When his check comes into the bank, what does the cashier 
do ? Where will a large part of the coin soon be found ? 
What will the bank do in consequence ? How much may it 
safely loan ? When it has reached this point, what is the 
bank called? Would the checks of individuals be current 
everywhere ? What does the bank do in consequence ? Why 
should its bills be more current ? What are banks under 
this form called ? What do they still continue to do, however ? 

3. What are banks thus ? What does their importance 
make necessary ? What about them must be defined ? How 
was this done under our former system of banking ? What 
did their charters fix ? How are privileges and responsibil- 
ities defined under our present system of banking ? By the 
present law, at what sum is the banking capital of the 
country fixed ? How may persons go into banking under 
the law ? What is to be done with the bonds deposited 
with the Treasurer of the United States ? What else does 
the law fix ? What of the security of the bills ? Can there 
be an over issue of bills ? 



212 POLITICAL ECONOMY. 

4. What do the profits of banks depend very largely upon ? 
How is it with other kinds of business ? What, however, is 
the first regular source of profit to banks ? What is the 
second source ? What is the third source ? How are these 
profits diminished ? What of the necessity of redemption ? 

5. What is not our present system of banking, and what ia 
it ? What is a government bank ? When, in a more literal 
sense, does a government go into banking? How is it with 
our government at the present time? Is such arrangement 
consistent with free institutions ? What is to be hoped, then ? 
What will be then left as the fruit of the war ? What will 
experience do ? What may well be done when specie pay- 
ments are resumed ? 

6. In what are the national banks required to redeem 
their bills at their counters ? What arrangement must they 
make for redeeming them in certain cities ? What is the 
effect of this requirement ? How are checks and bills re- 
deemed at clearing-houses ? 

7. How are the billholders secured under our present 
banking system ? How alone can a national bank fail ? 
What does the danger not arise from ? What will be the 
danger on the resumption of specie payment ? How do 
some financiers propose to avoid this danger, and how do 
others ? What objection to each method ? What does ex- 
perience show ? What is coin usually wanted for ? How 
do matters here tend to regulate themselves 2 



QUESTIONS ON THE TEXT. 213 



LESSON XVI. 

1. Why is credit resorted to ? What have men generally 
but little doubt of ? Is this hope always fallacious ? To 
whom is credit often advantageous ? What can such an one 
use to advantage ? What is the effect of credit in such 
cases, and what of the want of it ? How is it all along 
through life generally ? 

2. What is the credit system extremely liable to ? What 
makes it certain that it will be abused ? What does almost 
every young man think ? What is the consequence ? How 
is obtaining credit likely to affect men generally ? Such 
being the case, what must those do who give credit ? What 
is the effect of this ? Why must the credit system be inju- 
rious to the sound and sober business men ? What course, 
then, should be taken with regard to credit ? What is said 
of long credits ? 

3. At first view, what would seem to make but little differ- 
ence ? When is foreign credit desirable ? Why is home 
credit better ? When, then, will it be obtained at home ? 
In what respect, then, is foreign credit a calamity ? In what 
case, indeed, is it a positive evil ? What is the state of a na- 
tion that obtains its credits at home ? What is greatly to our 
advantage ? 

4. What is the first effect of a depreciating currency ? For 
a time, therefore, what is its tendency ? How does it affect 
credit subsequently ? What is the effect on honest industry 2 
What paust be the issue of such a state of things ? 



214 POLITICAL ECONOMY, 



LESSOR XVII. 

1. Why is finance considered an inscrutable subject ? What 
has usually been thought requisite to .a financier ? What 
lias financiering usually been regarded as a species of ? What 
is the case in fact ? What is it merely a correct application 
of? What of the exchanges here, however? By what prin- 
ciple are men governed in making exchanges ? What follows 
from this ? What is of no use ? What is the effect of de- 
ception in the case ? What alone, then, will a sound financier 
deal with ? 

2. What alone does government produce ? But how is 
protection exerted ? What sort of a value is protection ? 
What is demanded in exchange for it ? What different course 
may be taking by an unjust government for raising a revenue ? 
What by a timid government ? What, then, may governments 
have to offer in exchange ? 

3. Which of the devices to avoid taxes are here to be con- 
sidered ? What makes it proper that these should be consid- 
ered ? What is said of the legal-tender act in its bearings 
upon past and future contracts ? How has a tax been col- 
lected after all ? How will the tax have to be collected 
again ? Why have the United States bonds suffered depre- 
ciation ? How great was the depreciation at the lowest 
point ? How might this and much more have been saved ? 
Could the people have paid the taxes ? 

4. What is said of the national currency act as a financial 
measure ? Upon what ground was it advocated ? Wliat 



QUESTIONS ON THE TEXT. 215 

does every one hundred dollar bond used by the banks cost 
the government ? What is the effect of the bills of the na- 
tional »banks in depreciating the currency, in comparison with 
greenbacks ? What would the government have saved ? 
How might the same system of banking have been estab- 
lished later ? What was the • government entitled to, and 
what should it have done ? 

5. What have we reason to be grateful for ? What is it 
the part of wisdom to do ? What do we learn in the first 
place ? What devices have been resorted to, and with what 
success ? What do we learn in the second place ? What 
is said of the government's promises to pay ? What do we 
learn in the third place ? What is said of taxes ? 

6. What must one do in order to command money readily ? 
How alone can he do this ? What other course is this com- 
pared with ? What has a financier to do ? What does his 
office lead him to do, and how may this be best accomplished ? 



LESSON XYIII. 

1. What is a loan, and what made for ? How far does the 
lender of money give up the control of it ? What return does 
he receive ? What shows, in the first place, that it is jjroper 
to receive such a return ? How, again, does this appear, 
and how, still again ? 

2. What question naturally arises here ? How is money 
Btill regard^ed by most men ? Why does money seem to be 
more essential than any thing else ? But if one has an abun- 



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We use no others, and have no desire to. They give entire satisfaction. We like 
the freshness and excellence of the selections. We like the biographical notes and 
the definitions at the foot of the page. We also like the white paper and clear and 
beautiful type. Iii short, we do not know where to look for books which would be 
so satisfactory both to teachers and pupils. 

From Pres. Robert Allyn, McKendree College, El. 
Since my connection with this college, we have used in our preparatory depart- 
ment the Series of Readers known as the "National Readers," compiled by Parker 
& Watson, and published by Messrs. A. S. Barnes & Co. They are excellent ; aflbrd 
choice selections ; contain the right system of elocutionary instruction, and are 
well printed and bound so as to be serviceable as well as interesting. I can com- 
mend them as among the excellent means usect by teachers to make their pupils 
proficient in that noblest of school arts, Good Reading. 

From W. T. Harris, Supt. Public Schools, St. Louis, Mo. 
1 have to admire these excellent selections in prose and verse, and the careful 
arrangement which places first what is easy of comprehension, and proceeds gradu- 
ally to what is dillicult. I find the lessons so arranged as to bring together differ- 
ent treatments of the same topic, thereby throwing much light on the pupil's path, 
and I doubt not adding greatly to his progress. The proper variety of subjects 
chosen, the concise treatise on elocution, the beautiful typography and substantial 
binding— all these I find still more admirable than in the former series of National 
Readers, which I considered models in these respects. 

From H. T. Phillips, Esq., oftJie Board of Education, Atlanta, Ga. 
The Board of Education of this city have selected for use in the public schools 
of Atlanta the entire series of your Independent Readers, together with Steele's 
( "hemistry and Philosophy. As a member of the Board, and of the Committee on 
Text-books, the subject of Readers was referred to me for examination. I gave a 
pretty thorough examination to ten (10) different series of Readers, and in endea- 
voring to arrive at a decision upon the sole question of merit, and entirely inde- 
pendent of any extraneous influence, I very cordially recommended the Independent 
Series. This verdict was approved \)j the Committee and adopted by the Board. 

From Report of Rev. W. T. Brantly, D.D.. late Professor of Belles Leftres, Uviver- 
tity of Gaorgia, on " Text-Books in Beading,'''' before the Teachers' Convention of 
Georgia, May U, 1870. 
The National Series, by Parker & Watson, is deserving of its high reputation. 

The Primary Books are suited to the weakest capacity ; whilst those more advanced 

supply instructive illustration on all that is needed to be known in connection with 

the art. 

4 



The JVaiiofial Series of Standard Schoot-:Sooks. 

WATSON'S CHILD'S SPELLER, 



THE INDEPENDENT CHILD'S SPELLEE. 

IPrice S5 Cents. 

This unique book, published in 1872, is the first to he consistently printed !a 
imitation of writing ; that is, it teaches orthography as we use it. It is for thfli 
Emallest class of learners, who soon become familiarized with words by their forms, 
and learn to read writing while they spell. 

EXTRACT FROM THE PREFACE. 

Success in teaching English orthography is still exceptional, and it maftt so con- 
tinue until the principles involved are recognized in practice. Form is foremost : 
the eye and the hand must be trained to the formation of words ; and since spelling 
is a part of writing, the written form only should be used. The laws of mental 
association, also— especially those of resemblance, contrast, and contiguity in time 
and place— should receive such recognition in the construction of the text-book aa 
shall insure, whether consciously or not, their appropriate use and legitimate re« 
eults. Hence, the spelling-book, properly arranged, is a necessity from the first ; 
and, though primers, readers, and dictionaries may serve as aids, it can have no 
competent tubstitute. 

Consistently with these views, the words used in the Independent Child's Speller 
have such original classifications and arrangements in columns — in reference to 
location, number of letters, vowel sounds, alphabetic equivalents, and consonant 
terminations— as exhibit most effectively their formation and pronunciation. The 
vocabulary is strictly confined to the simple and significant monosyllables in com- 
mon use. He Avho has mastered these may easily learn how to speU and pronounce 
words of more than one syllable. 

The introduction is an illustrated alphabet in script, containing twenty-six pic- 
tures of objects, "^nd their names, commencing both with capitals and small letters. 
Part First embraces the words of one, two, and three letters; Part Second, the 
words of four letters ; and Part Third, other monosyllables. They are divided into 
short lists and arranged in columns, the vowels usually in line, 00 as to exhibit in- 
dividual characteristics and similarity of formation. The division of words into 
paragraphs is shown by figures in the columns. Each list is immediately followed 
by sentences for reading and writing, in which the same words are again presented 
with irregularities of form and sound. Association id ihus employed, memory 
tested, and definition most satisfactorily taught. 

Among the novel and valuable features of the lessons and exercises, probably the 
most prominent are their adaptedness for young children and their being printed in 
exact imitation of writing. The author believe? that hands large enough to spin a 
top, drive a hoop, or catch a ball, are not too small to use a crayon, or a slate and 
pencil ; that the child's natural desirb to dvaw and write eisould not be thwarted, 
but gratified, encouraged, and wisely directed ; and that since the written form is 
the one actually used in connection with spelling in after-life, the eye and the hand 
of the child should be trained to that form from the first. He hopes that this littlo 
work, designed to precede all other spelling-books and conflirt with none, may 
eatisfy the need so vmiversally recognized Of a fit introduction to orthography, pei* 
aanshlp, and ilng^jsh compoBition. 

5 



The JVationat Series of Standard School- l^ooA^s. 



The National Readers and Spellers. 

THEIR BECORD. 

These "books have been adopted by the School Boards, or official authority, of 
the following important States, cities, and towns— in most cases for exclusive use. 
The State of Minnesota, The State of Texas. 

The State of Missouri. 

The State of Alabama.. 
; The State of North Carolina. 

The State of Ijouisiana* 

Indiana. 
New Albany. 
Port Wayne. 
Lafayette. 
Madison. 
Logan sport. 
Indianapolis. 

Iowa. 
Davenport. 
Burlington. 
Muscatine. 
Mount Pleasant. 
&c. 

Nebraska. 
Brownsville. 
Lincoln. 

&c. 

Oregon. 

Portland. 
Salem. 
&c. 

Virginia. 

Richmond. 

. Norfolk. 

Petersburg.. 

Lynchburg. 

&c. 

South Carolina^. 

Columbia. 

Charleston. 

Georgia. 
Savannah. 

Ijouisiana. 
New Orleans. 

TennessdOt 
Memphis 



New York. 


Illinois. 


New York City. 


Chicago. 


Brooklyn. 


Peoria. 


Buffalo. 


Alton. 


Albany, 


Springfield. 


Rochester. 


Aurora. 


Troy. 

Syracuse. 

Ehnira. 


Galesburg. 
Rockford. 


Rock Island. 


&c., &c. 


&c., &c. 


Pemiaylvania. 


"Wisconsin. 


Reading. 
Lancaster. 


Milwaukee. 


Fond du Lac. 


Erie. 


Oshkosh. 


Scranton. 


JanesviUe. 


Carlisle. 


Racine. 


Carbondal<3. 


Watertown. 


Westchester. 


Sheboygan. 


Schuylkill Haven. 


La Crosse. 


Williamsport. 


Waukesha. 


Norrlstown. 


Kenosha. 


Bellefonte. 


&c., <fec. 


Wilkesbarre. 




&c., &c. 






Michigan* 


New Jersey. 


Grand Rapids. 


Newark. 


Kalamazoo. 


Jersey City. 


Adrian. 


Paterson. 


tiackson. 


Trenton. 


Monroe, 


Camden. 


Lansing. 


Elizabeth. 


&c., &c. 


New Brunswick. 




Phillipsburg. 


Ohio. 


Toledo. 




Sandusky. 


Delaware. 


Conneaut. 


Wilmington. 


^harden. 
Hudson. 


' 


Canton. 


D. C. 


. Salem. 


Washington. 


&c., &c. 



The Educational Bulletin records periodically all new points gained 



The JSTational Series of S tandard School-^ooks, 

SCHOOL-ROOM CARDS. 

« » » 

Baade's Reading Case, *^io oo 

A frame containing movable cards, with arran^'ement for showing 
one sentence at a time, capable of 28,000 transpositions. 

Eureka Alphabet Tablet • *^ ^^ 

Presents the alphabet upon the Word Method System, by which the 
child will learn the alphabet la nine days, and make no small progress in 
reading and spelling in the same time. 

National School Tablets, lo Nos. .... .*8 oo 

Embrace reading and conversational exercises, object and moral les- 
ions, form, color, &c. A complete set of these large and elegantly illus- 
trated Cards will embellish the school-room more than any other article 
of furniture. 



READING. 

. ; .O » » 

Fowle's Bible Reader $1 oo 

The narrative portions of the Bible, chronologically and topically ar- 
ranged, judiciously combined with selections from the Psalms, Proverbs, 
and other portions which inculcate important moral lessons or the great 
truths of Christianity. The embarrassment and difficulty of reading the 
Bible itself, by course, as a class exercise, are obviated, and its use made 
feasible, by this means. 

North Carolina First Reader ^o 

North Carolina Second Reader 65 

North Carolina Third Reader :i oo 

Prepared expressly for the schools of this State, byC. H. Wiley, Super- 
intendent of Common Schools, and F. M. Hubbard, Professor of Litera- 
ature in the State University. 

Parker's Rhetorical Reader 1 oo 

Designed to familiarize Readers with the pauses and other marks in 
general use, and lead them to the practice of modulation and inflection of 
the voice. 

Introductory Lessons in Reading and Elo- 
cution 75 

Of similar character to the foregoing, for less advanced classes. 

High School Literature ) 50 

Admirable selections from a long list of the world's best writers, for ex- 
ercise in reading, oratory, and composition. Speeches, dialogues, and 
model letters represent the latter department. 

7 



The JVational Series of Standard Schoot-^ooks* 

ORT HO G RAP HY^ 

SMITH'S: SERIES 

Supplies a speller for every class in graded schools, and com^jrises the most com- 
plete and excellent treatise on English Orthography and its companion 
tranches extant. 

1. Smith's Little Speller . $20 

First Round in the Ladder of Learning. 

2. Smith's Juvenile Definer 45 

Lessons composed of familiar words grouped with reference to similar 
signification or use, and correctly spelled, accented, and defined. 

3. Smith's Grammar-School Speller .... 50 

Familiar words, grouped with reference to the sameness of sound of syl- 
lables differentljf spelled. Also definitions, complete rules for spelling and 
formation of derivatives, and exercises in false orthography. 

4. Smith's Speller and Definer 's Manual . oo 

A complete School Dictionary containing 14,000 words, with various 
other useful matter in the way of Bales and Exercises. 

5. Smith's Etymology— Small, 75; Complete . 1 25 

The first and only Etymology to recognize the Anglo-Sacson onr Tnother 
tongue; containing also full lists of derivatives from the Latin, Greek, 
Gaelic, Swedish, Norman, &c., «fec ; being, in fact, a complete etymology 
of the language for schools. 

Sherwood's Writing Speller 15 

Sherwood's Speller and Definer 15 

Sherwood's Speller and Pronouncer ... 15 

The Writing Speller consists of properly ruled and numbered blanks 
to receive the words dictated by the teacher, with space for remarks and 
corrections. The other volumes may be used for the dictation or ordinary 

class exercises. 

Price's English Speller . . . *15 

A complete spelling-book for all grades, containing more matter thaa 
" Webster," manufactured in superior style, and sold at a lower price — 
consequently the cheapest speller extant. 

Northend's Dictation Exercises 63 

Embracing valuable information on a thousand topics, communicated 
in such a manner as at once to relieve the exercise of spelling of its usual 
tbdium, and combine it with instruction of a general character calculated 
to profit and amuse. 

Wright's Analytical Orthography .... 25 

This standard work is popular, because it teaches the elementary sounds 
In a plain and philosophical manner, and presents orthography and or- 
thoepy in an easy, uniform system of analysis or parsing. 

Fowle's False Orthography 4a 

Exercises for correction. 

Page's Normal Chart ♦s 75 

The elementary sounds of the language for the school-room walls. 

8 



The JVati07ial Series of Standard SchoolSooks. 

ORTHOGRAPHY-Continued. 

Barber's Critical Writing Speller ..... 20 cts. 

" The Student's Own Hand-Book of Orthography, Definitionp, and Sentences 
consisting of Written Exercises in the Proper Spelling, Meaning, and Use ^ 
Words." (Published 1873.) This differs from Sherwood's and other Writing 
Spellers in its more comprehensive character. Its blanks are adapted to writing 
whole sentences instead of detached words, with the proper divisions for number- 
ing, corrections, etc. Such aids as this, like Watson's Child's Speller and Sher- 
wood's Writing Speller, find their raison d'itre in the postulate that the art of cor- 
rect spelling is dependent upon written, and not upon spoken language, for its utii« 
Jty, if not for its very existence. Hence the indirectness of purely oral instruction. 



ETYMOLOGY. 



Smfth's Complete Etymology, Ii 25 

Smith's Condensed Etymology 75 

Containing the Anglo-Saxon, French, Dutch, German, Welsh, Danish, Gothic, 
Swedish, Gaelic, Italian, Latin, and Greek Roots, and the English words derived 
therefrom accurately spelled, accented, and defined. 



From Hon, Jno. G. McMynn, late State Superintendent of Wisconsin. 
I wish every teacher in the country had a copy of this work. 

From Pbin. Wm. F. Phelps, Minn. State N'ormal. 

The book is superb— just what is needed in the department of etymology and 
spelling. 

From Prof. C. H. Verrili-, Pa. State Normal School 

The Etymology (Smith's) which we procured of you we like much. It is the 
best work for the class-room we have seen. 

From Hon. Edward Ballard, Supt.of Common Schools, State of Maine. 
Many a teacher who has turned his attention to the derivation of words has 
rejoiced in the helps furnished by dictionaries and smaller "hand-books," where 
his taste could be gratified, and the labors of patient students have been available 
to his own improvement. A treatise on .this subject, called "A Complete Ety- 
mology of the English Language," contains very much information in a small space. 
The author, W. W. Smith, is evidentl;^ a lover of this branch of study, and has fur- 
nished a manual of singular utility for its purpose. 



DICTIONARY. 



75 



The Topical Lexicon, i 

This work is a School Dictionary, an Etymology, a compilation of synonyms, and 
a manual of general information. It differs from the ordinary lexicon "in bei::^ 
arranged by topics instead of the letters of the alphabet, thus realizing the apparciii 
paradox of a "Readable Dictionary." An unusually valuable school-book, 

9 



The A^atlonal Series of Standard School- !SooA:s, 

ENGLISH GRAMMAR. 



CLARK'S DIAGRAM SYSTEM. 



Clark's Easy Lessons in Language, . . . lo 35 

Published 1874, Contains illustrated object-lessons of the most attractive charac. 
ter, and is couched in language freed as much as possible from the dry technicalities 
of the science. 

Clark's Brief English Grammar, 60 

Published .1872. Part I. is adapted to youngest learners, and the whole forms a 
complete '' brief course " in one volume, adequate to the wants of the common 
school. 

Clark's Normal Grammar, i oo 

Published 1870, and designed to take the place of Prof. Clark's veteran "Prac- 
tical" Grammar, though the latter is still furnished upon order. The Normal is 
an entirely new treatise. It is a full exposition of the system as described below, 
with all the most recent improvements. Some of its peculiarities are— A happy 
blencling of Syntheses with Akalysbs ; thorough Criticisms of common errors 
in the use of our Language ; am^ important improvements in the Syntax of Sen- 
tences and of Phrases. 

Clark's Key to the Diagrams, ...... i oo 

Clark's Analysis of the English Language, . 6o 
Clark's Grammatical Chart, *3 75 

The theory and practice of teaching grammar in American schools is meeting 
with a thorough revolution from the use of this system. While the old methods 
offer proficiency to the pupil only after much weary plodding and dull memorizing, 
this affords from the inception the advantage of practiced Object Teaching, address- 
ing the eye by means of illustrative figures ; furnishes association to the memory, 
its most powerful aid, and diverts the pupil by taxing his ingenuity. Teachers 
who are usiug Clark's Grammar uniformly testify that they and their pupils find it 
the most interesting study of the school course. 

Like all great and radical improvements, the system naturally met at first with 
much unreasonable opposition. It has not .only outlived the greater part of this 
opposition, but finds many of its warmest admirers among those who could not 
at first tolerate so radical an innovation. All it wants is an impartial trial to con- 
vince the most skeptical of its merit. No one who has fairly and intelligently 
tested it in the school-room has ever been -known to go back to the old method. 
A great success is already established, and it is easy to prophecy that the day is 
not far distant wheu it will be the only system of teaching English Chrammar. As 
the System is copyrighted, no other text-books can appropriate this obvious an^ 
great improvement. 



Welch's Analysis of the English Sentence, . i ^5 

Remarkable for its new and simple classification, its method of treating conneO" 
tires, its explanations of the idioms and constructive laws of the language, etc. 

10 



The JVaHonal Series of Standard Sc?ioot-7)ooks. 



Clark's Diagram English Grammar, 

TESTIMONIALS. 
From J. A. T. Dubnin, Principal Dubuqne R. C. Academy, Iowa. 
In my opinion, it is well calculated by its system of analysis to develop those rational 
faculties which in the old systems were rather left to develop themselves, while th« 
memory was overtaxed, and the pupils discouraged. 

From B. A. Cox, School Commissioner, Warren County, lllirwis. 
I have examined 160 teachers in the last year, and those having studied or taught 
Clark's System have universally stood fifty per cent better exammations than those 
Uaving studied other authors. 

From M. II. B. Bubket, Principal Masome Institute, Georgetown, Tennessee. 
I traveled two years amusing myself in instructing (exclusively) Grammar classei 
with Clark's system. The first class I instructed fifty days, but found that this waa 
more time than waa required to impart a theoretical knowledge of the ecienca 
During the two years thereafter I instructed classes only thirty days each. Invariably 
I proposed that unless I prepared my classes for a more thorough, minute, and accu- 
rate knowledge of English Grammar than that obtamed from the ordinary books and 
in the ordinary way in from one to two years, I would make no c^a-'ge. I never 
failed in a solitary case to far exceed the hopes of my classes, and made money and 
character rapidly as an instructor. -^ 

From A. B. Douglass, School Commissioner, Delaware County, New lork. 
I have never krtown a class pursue the study of it under a live teacher that has not 
succeeded ; I have never known it to have an opponent m an educated teacher wha 
had thoroughly iavestigSLted it; I have never known an igtwrant teacher to examme 
it ; I have never known a teacher who has used it, to try any other. 

From J. A. Dodgb, Teacher and Lecturer on English Grammar, Kentucky.^ 
We are tempted to assert that it foretells the dawn of a brighter age to our mother- 
tongue. Both pupil and teacher can fare sumptuously upon its contents, however 
highly they may have prized the manuals into which they may have been imtiated, 
and by which their expressions have been moulded. 

From W. T. Chapmai*, Superintendent Public Schools, Wellington, Ohio. 
I regard Clark' s System of Grammar the best published. For teaching the analysft 
of the EngliFh Language, it surpasses any I ever used. 

From F. S. Lton, Principal South Norwalk Union School, Conm,cUcut. 
During ten years' experience in teaching, I have used six different authors on the 
Bubject of English Grammar. I am fully convinced that Clark's Grammar is better 
calculated to make thorough grammarians than any other that 1 have seen. 

From Catalogs of Rohbke's Commeeoiai. College, St. Louis, 3fissouri. 
We do not hesitate to assert, without fear of successful contradiction, that a better 
knowledge of the English language can be obtained by this system in six weeks than 
by the old methods in as many months. 

From A. Pickett, President of the State Teachers^Assodation, ^sconsin. 
A thorough experiment in the use of many approved authors upon the subject of 
E^Ush G?amma?has convinced me of the superiority of Clark, When the pupUh«i 
completed the course, he is left upon-a foundation of pfinctple, and not upon the die. 
turn of the author. , . . ^v n 

From Geo. F. MoFaelaioj, Prin. McAllisterville Academy, Junmta Co. Pcnn 
At Se first examination of public-school teachers by the county saperintendent, 
when oneof our student teacher^s commenced analyzing a sentence ac^^^^^^^^^ 
the superintendent listened in mute astonishmenc V"*t^>®..^*^l''''!^l^'Jnnrrtn't do 
what that meant, and finally, with a very knowing 1«.«^; «^t?/rv.The^owS certifi^ 
here, and asked the applicant to parse the sentence right, and gave t^elowest cerUti. 
Sates to all who barelymentioned Clark. Afterwards, ^ PJf.^«;«g.,^.'^,7^^3^t^X^^ 
and the next fall he permilted it to be partially used, -while the third o. last laii, ne 
Senly commenderthe system, and appo^inted three of my best teachorr to explain it 
at the two Institutes and one County Convention held since September. 

m- For further testimony of equal force, see the PubUshers' Special Ciraular, OJ 
r,tirr«nt aumbors ef the Educational Bulletin. 

11 



2'he JVatlonal Series of Standard School-'Books, 

GEOGRAPHY. 



NATIONAL GEOGRAPHICAL SYSTEM. 



THE SERIES. 

I, Monteith's First Lessons in Geography, . . . $ 35 
11. Monteith's New Manual of Geography, . . . 1 10 
11. McNally's System of Geography, 2 00 

INTERMEDIATE OR ALTERNATE VOLTJMES. 

f*. Monteith's Introduction to Geography, 63 

2*. Monteith's Physical and Political Geography, ... 1 88 

ACCESSORIES. . 

• Monteith's Wall Maps 2 sets (see page 15), $*20 03 and *35 00 

Monteith's Manual of Map-Drawing (Allen's System) . 25 

Monteith's Map-Drawing and Object-Lessons, . , 75 

Monteith's Map-Drawing Scale, *25 

1. PRACTICAL OBJECT TEACHING^ The infant scholar is first introduced 
to a picture whence he may derive notions of the shape of the earth, the phenom- 
ena of day and night, the distribution of land and water, and the great natural 
divisions, which mere words would fail entirely to convey to the untutored mind. 
Other pictures follow on the same plan, and the child's mind is called upon to grasp 
no idea without the aid of a pictorial illustration. Carried on to the higher 
books, this system culminates in Physical Geography, where such matters as 
climates, ocean currents, the winds, peculiarities of the earth's crust, clouds and 
rain, are pictorially explained and ' rendered apparent to the most obtuse. The 
illustrations used for this purpose belong to the highest grade of art. 

2. CLEAR, BEAUTIFUL, AND CORRECT MAPS. In the lower numbers the 
Eiaps avoid unnecessary detail, while respectively progressive, and affording the 
pupil new matter for acquisition each time he approaches in the constantly en. 
larging circle the point ot coincidence with previous lessons in the more ele- 
mentary books. In the Physical and Political Geography the maps embrace many 
new and striking features. One of the most effective of these is the new plan for 
displaying on each map the relative sizes of countries not represented, thus obvi- 
ating much confusion which has arisen from the necessity of presenting maps in 
tae same atlas drawn on different scales. The maps of " McNally" have long been 
celebrated for their superior beauty and completeness. . This is the only school- 
book in which the attempt to make a complete atlas also clear and distinct, haa 
been successful. The map coloring throughout the series is also noticeable. 
Delicate and subdued tints take the place of the startling glare of Inharmonious 
(Colors which too frequently in such treatises dazzle the eyes, distract the atten- 
tion, and serve to overwhelm the names of towns and the natural features of th« 
landscape. 

12 



The A^'ational Serie s of Sta^idard Sc?iool-:Books. 

GEOGRAPHY-Continued. 

3. THE VAEIETT OF MAP EXERCISE, Starting each time from a different 
basis, the pupil in many instances approaches the same fact no less than fja 
times^ thus indelibly impressing it upon his memory. At the same time this eys. 
tern is not allowed to become wearisome— the extent of exercise on each subject 
being graduated by its relative importance or difficulty of accLuisition. 

4. THE OHAEAOTER AOT) AEEANGEMENT OF THE DESOEIPTIYE 
TEXT. The cream of the science has been carefully culled, unimportant matter 
rejected, elaboration avoided, and a brief and concise manner of presentation cul- 
tivated. The orderly consideration of topics has contributed greatly to simplicity. 
Due attention is paid to the facts in history and astronomy which are inseparably 
connected with, and important to the proper understanding of geography— and 
m.ch only are admitted on any terms. In a word, the National System teaches 
geography as a science, pure,, simple, and exhaustive. 

5. ALWAYS TIP TO THE TIMES. The authors of these books, editorially 
speaking, never sleep. No change occurs in the boundaries of countries, or of 
counties, no new discovery is made, or railroad built, that is not at once noted 
and recorded, and the next edition of each volume carries to every echool-room 
the new order of things. 

6. SUPERIOR GRADATION. This is the only series which furnishes an avail- 
able volume for every possible class in graded schools. It is not contemplated 
that a pupil must necessarily go through every volume in succession to attain 
proficiency. On the contrary, two will suffice, but th7'ee are advised; and if the 
course will admit, the whole series should be pursued. At all events, the books 
are at hand for selection, and every teacher, of every grade, can find among them 
one exactly suited to his class. The best combination for those who wish to 
abridge the course consists of Nos. 1, 2, and 3, or where children are somewhat ad- 
vanced in other studies when they commence geography, Nos. 1*, 2, and 3. Where 
b.ut two books are admissible, Nos. l*and 2*, or Nos. 2 and 3, are recommended. 

7. FORM OF THE VOLUMES AND MECHANICAL EXECUTION. The maps 
Hnd text are no longer unnaturally divorced in accordance with the time-honored 
.practice of making text-books on this subject as inconvenient and expensive as 

ossible. On the contrary, all map questions are to be found on the page opposite 
.^e map itself, and each book is complete in one volume. The mechanical execu- 
tion is unrivalled. Paper and printing are everything that could he desired, and 
the binding is-r-A. S. Barnes and Company's. 

8. MAP-DRAWING. In 1869 the system of Map-Drawing devised hy Professor 
Jekomh Allen was secured exclieswely for this series. It derives its claim to 
originality and usefulness from the introduction of a Jixed unit of measuremeni 
applicable to every Map. The principles being so few, simple and comprehensive, . 
the subject of Map-Drawing is relieved of all practical difficulty, (In Nos. 2, 2*, 
and 3, and published separately.) 

8, ANALOGOUS OUTLINES. At the same time with Map-Drawing was also in- 
troduced (in No. 3), a new and ingenious variety of Object Lessons, consisting of n 
comparison of the outlines of countries with familiar objects pictorially represented. 

13 



The JVationat Series of Standard School-So'oks. 

GEOGRAPHY-Continued. 

MONTEITH'S INDEPENDENT COURSE. 
Elementary Geography (published 1874) . . $o 80 
Comprehensive Geography (with 103 Maps) . i m 

%W° These volumes are not revisions of old works— not an addition to any 
series— but are entirely new productions— each by itself complete, independent, 
comprehensive, yet simple, brief, cheap, and popular ; or, taken together, the most 
admirable " series " ever offered for a common-school course. They present the 
following features, skillfully interwoven— the student learning all about one country 
at a time. 

ZaOCAZi GEOGRAPfi'^P or the Use of Maps. Important features of 
the Maps are the coloring of States as objects, and the ingenious system for laying 
down a much larger number of names for reference than are found on any other 
Maps of same sizer-and without crowding. 

FHVSICAIi GEOGRAFH'S', or the Natural Features of the Earth, 
illustrated by the original and striking belief Maps, being bird's-eye views or 
photographic pictures of the Earth's surface. 

DESCRIPTIVE GEOGR APHT^ inclading the Physical ; with soma 
account of Governments, and Races, Animals, etc. 

HISTORIC All GEOGRAPHY, or a brief summary of the salient 
points of history, explaining the present distribution of nations, origin of geo- 
graphical names, etc. 

rXATHElMEATICAIi GEOGRAPHT, including Astbokomicai,, 
which describes the Earth's position and character among planets ; also the Zones, 
Parallels, etc. 

C01XEPARATIVE GEOGRAPH7, or a system of analog'y, con- 
necting new lessons with the previous ones. Comparative sizes and latitudes arc 
shown on the margin of each Map, and all countries are measured in the ^^ frame 

of Kansas.'''' 

TOPIC All GEOGRAPB7, consisting of questions for review, and 
testing the student's general and specific knowledge of the subject, with soggea* 
tions for Geographical Compositions. 

ANCIENT GEOGRAPHT. a section devoted to this subject, with 
Maps, will be appreciated by teachers. It is seldom taught in our common schools, 
because it has heretofore required the purchase of a separate book. 

GRAPHIC GEOGRAPHY, or Map-Dbawing by Allen's "Unit of 
Measurement " system (now almost universally recognized as without a rival) iC 
introduced throughout the lessons, and not as an appendix. 

CONSTRUCTIVE GEOGRAPHIT, or Globe-Making. With each 
book a set of Map Segments is furnished, with which each student may make his 
own Globe by following the directions given. 

RAIIiROAD GSOGRAPHIT, with a grand Map illustrating routes 
of travel la the United States. Also, a " Tour in Europe." 

14 



The JVaiional Series of Standard Schoot-:Books. 



The National System of Geography, 

By Monteith & McNally. 

ITS BECOKD. 

These popular text-books have been adopted, by official authority,. for the 
Bchools of the following States and Cities— in most cases for exclusive and 
uniform use. 

STATES. 



California, 


Venuouty 


Florida, 


t 


Missouri, 


lo-wa^ 


Minnesota, 


Alabama^ 


Iiouisiana, 


, Nortli CaroUna, 


Tennesseoj 


Oregon^ 


Kansas, 




Texas, 


Arkansas, 


Mississippi. 




CITIES. 




New York City, 


Louisville, 


Nashville, 


Portland, 


Brookljm, 


Newark, 


Utica, 


Savannah, 


New Orleans, 


MUwaukee, 


Wilmington, 


Indianapolis, 


Buffalo, 


Charleston, 


Trenton, 


Springfield, 


Eichmond, 


Eochester, 


Norfolk, 


Wheeling, 


Jersey City, 


Mobile, 


Norwich, 


Toledo, 


Hartford, 


Syracuse, 


Lockport, 


Bridgeport, 


Wo'rcester, 


Memphis, 


Dubuque, 


St. Paul, 


San Francisco, 


Salt Lake City, 


Galveston, 


' Vicksburg, 


&c. 


&c. 


&c 


&c. 



STANDARD WALL MAPS. 

By James Monteith. 
Monteilh'S School Maps, 8 Numbers, per set =^120 00 

The " School Series " includes the Hemispheres (2 Maps), United States, North 
America, South America, Europe, Asia, Africa.— Pi-ice. $2,50 each. 

Each Map is 28 x 34 inches, beautifully colored, has the names all laid down, and 
is substantially mounted on canvas with rollers. 

Monteilh's Grand Maps, '^ iSTumbers, per set 

(in locked box) *35 00 

The "Grand Series" includes the Hemispheres (1 Map), United State?, South 
America, Earope, Asia, Africa, The World on Mercator's Projection.— Price, $5.00 
each. Size 42 x 52 inches, names laid down, colored, mounted, &c., like the School 
Series. 

15 



7'?ie J\''atlo7ial Saves of Standard School- Tjooks. 

Monteitli & McNally's National GeograpMes, 

CRITICAL opiNionNrs. 
Frcm. R. A. Adams, Member of Board of Education, New York. 

1 have found, ^y examination of the Book of Supply of our Board, that consid- 
erably the largest number of any series now used in our public schools is th« 
I^ational, by Monteith and McNally. 

F)'om Bro. Patrick, Chief Provincial of the Vast Educational Bodety of tha 
Christian Brctuees in the United States. 

Having been convinced for some time past that the series of Geographies i» 
nee in our schools were not giving satisfaction, and came far short of meefiiiy 
our most reasonable expectations, I have felt it my imperative duty to examia* 
into this matter, and see if a remedy could not be found. 

Copies of the different Geographies published in this country have been placed 
at our command for examination. On account of other pressing duties we havd 
not been able to give as much time to the investigation of all these different serioi 
as we could have desired ; yet we have found enough to convince us that there aro 
many others better than those we are now using; but we cheerfully give our most 
decided preference, above all others, to the National Series, by Monteith & McNally. 

Their easy gradation, their thoroughly practical and independent character, 
their comprehensive completeness as a full and accurate system, the wise dis- 
crimination shown in the selection of the subject matter, the beautiful and copious 
illustrations, the neat cut type, the general execution of the works, and other ex<. 
cellencies, will commend them to the friends of education everywhere. 

From the "Home Montitlt," Nashvilh, Tenn. 
MoNTEiTn's AND McNaij.t'3 GEOGRAPniES.— Geography is so closely con- 
nected with Astronomy, History, Ethnology, and Geology, that it is difficult to 
define its limits in the construction of a text-book. If the author confines himself 
strictly to a description of the earth's surface, his book will be dry, meager, and 
unintelligible to a child. If, on the other hand, ho attempts to give .information 
on the cognate sciences, he enters a boundless field, and may wander too far. It 
eeeras to us that the authors of the series before us have hit on the happy medium 
between too much and too little. The First Lessons., by applying the system of 
object-teaching, renders the subject so attractive that a child, just able to read, 
may become deeply interested in it. The second book of the course enlarges th« 
view, but still keeps to the maps and simple descriptions. Then, in the third 
book, we have Geography combined with History and Astronomy. A general 
view of t»ie solar system is presented, bo that the pupil may understand the 
fearth's position on the map of the heavens. . The first part of the fourth book 
treats of Physical Geography, and contains a vast amount of knowledge com- 
pressed into a small space. It is made bright and attractive by beautiful pictures 
and suggestive illustrations, on the principle of object-teaching. The maps in 
the second part of this volume aro remarkably clear, and the map exercises aro 
copious and judicious. In the fifth and last volume of the scries, the whole sub- 
ject is reviewed and systematized. This is strictly a Geography. Its maps aro 
beautifully engraved and clearly printed. The map exercises are full and com- 
prehensive. In all these books the maps, questions and descriptions are given in 
the same volume, hx most geogrtiphies there are too many details and minute 
descriptions— more than any child out of purgatory ought to be required to learn. 
The power of memory is overstrained ; there is confhsion— no clearly deflfied idea 
is formed in the child's mind. But in these books, in brief, pointed descriptions, 
nnd constant "se of bright, accurate maps, the whole subject is photographed on 
Ihe mind. IQ 



The JVallonal Series of Standard School-^ooks, 

MATHEMATICS. 



DAVIES' NATIONAL COURSE 



ARITHMETIC. 

BLATED. 

1. Davies' Primary Arithmetic, $ 25 $ 83 

2. Davies' Intellectual Arithmetic, 40 48 

3. Davies' Elements of Written Arithmetic, . . , . 50 60 

4. Davies' Practical Arithmetic, 90 1 00 

Key to Practical Arithmetic, 90 

5. Davies' University Arithmetic, 1 40 1 50 

Key to University Arithmetic, *1 40 

ALGEBKA. 

1. Davies' New Elementary Algebra, *1 25 1 35 

Key to Elementary Algebra, . . . . . *1 25 

2. Davies' University Algebra, 1 50 1 60 

Key to University Algebra, ...... *1 50 

3. Davies' New Bourdon's Algebra, ...... 2 25 2 38 

Key to Bourdon's Algebra, *2 25 

G-EOMETKY. 

1. Davies' Elementary Geometry and Trigonometry, 1 40 1 50 

2. Davies' Legendre's Geometry, 2 25 2 38 

3. Davies' Analytical Geometry and Calculus, ... 2 50 2 03 

4. Davies' Descriptive Geometry, 2 75 2 88 

5. Davies' New Calculus, 2 00 

MENSURATIOK 

1. Davies' Practical Mathematics and Mensuration, . 1 50 1 60 

2. Davies' Elements of Surveying, 2 50 2 03 

3. Davies' Shades, Shadows, and Perspective,, . . 3 75 3 88 

MATHEMATICAL SCIENCE. ^ 

Davies' Grammar of Arithmetic, * ^^ 

Davies' Outlines of Mathematical Science, *. 1 00 

Davies' ivjature and Utility of Mat: ematics, 8vo, *2 00, 12mo, *1 50 

Davies' Metric System, . . ' • 11 nn 

Davies & Peck's Dictionary of Mathematics, . . . . . 5 UU 

Davies' Foundations Mathematical Science, * 25 

17 



TT^e JyTationat Series of Standard School-^oofcs» 

MATHEMATICS-Continued. 

ARITHMETICAL EXAMPLES. 

Reuck's Examples in Denominate Numbers % so 
lleuck's Examples in Arithmetic i oo 

These volumes diffel from the ordinary arithmetic in their peculiarly 
practical character. They are composed mainly of examples, and afford 
the most severe and thorough discipline for the mind. While a book 
which should contain a complete treatise of theory and practice would bo 
too cumbersome for every-day use, the insufficiency of practical examples 
has been a source of complaint. 

HIGHER MATHEMATICS. 

Ghurch's Elements of Calculus 2 50 

Church's Analytical Geometry 2 50 

Church's Descriptive Geometry, with Shades, 

Shadows, and Perspective 4 00 

These volumes constitute the "West Point Course" in their several 
departments. 

Courtenay's Elements of Calculus . . . . 3 oo 

A werk especially popular at the Soutii. 

Hackley's Trigonometry 2 50 

With applications to navigation and surveying, nautical and practical 
geometry and geodesy. 

Peck's Analytical Geometry l 75 

Peck's Practical Calculus » ....... i 75 

APPLIED MATHEMATICS. 

Peck's Ganot's Popular Physics i 75 

Peck's Elements of Mechanics ..... 2 oo 

Peck's Practical Calculus i 75 

Peck's Analytical Geometry, i 75 

Prof W G Peck, of Columbia College, has designed the first of these works for 
the ordinary wants of schools in the department of Natural Philosophy. The 
other volumes are the briefest treatises on those subjects now published Iheir 
methods are purely practical, and unembarrassed by the details which rather cour 
fuse than simplify science. 

■ SLATED ARITHMETICS. 

This consists of the application of an artificially slated surface to the inner cover 
of a book with flap of the same opening outward, so that students may rcier to 
the book and use the date at one and the same time, and as thougli the slate were 
detached. When folded up, the slate preserves examples and memoranda tiL 
needed. The material used is as durable ad the btoue slate. The adcutionai cost 
^f books thus improved is trifling. 

. 18 



Rational Series of Standard School-Sooks. 

Davies' National Course of Mathematics. 

TESTIMONIALS. 

Frrnn L. Van Bokkelen, StaU Superintendent Public Instruction, Maryland. 

The series of Arithmetics edited by Prof. Davies, and published by your fimou 
lave been used for many years in the schools of several counties, and the city ol 
Baltimore, and have been approved by teachers and commissioners. 

Under the law of 1865, establishing a uniform system of Free Public Schools, 
these Arithmetics vpere unanimously adopted by the State Board of Education, 
after a careful examination, and are now used in all the Public Schools of Mary- 
land. . . * 

These facts evidence the hi^h opinion entertained by the School Authorities o4 
the value of the series theoretically and practically. 

From noKACE "Webstee, President of the College of Neio Yorh. 

The undersigned has examined, with care and thought, several volumes of Da- 
vies' Mathematics, and is of the opinion that, as a whole, it is the most completa 
and best course for Academic and Collegiate instruction, with which he is ao« 
q^uainted. 

From David N. Camp, State Superintendent of Common Scliools, Connecticut. 

I have examined Davies' Series of Arithmetics with some care. The language 
is clear and precise ; each principle is thoroughly analyzed, and the whole so ar 
rano'ed as to facilitate the work of instruction. Having observed the satisfaction 
and°succes3 with which the different books have been used by eminent teachers, 
it gives me pleasure to commend them to others. 

From J. O. "Wllson, Chairman Committee on Text-BooJcs, Washington, D. (f. 

I consider Davies' Arithmetics decidedly superior to any other series, and in 
this opinion I am sustained, I believe, by the entire Board of Education and Corps 
of Teachers in this city, v/hcre they have been UBed for several years past. 

From John L. Cajsepbell, Professor of Mathematics, Wabash College, Indiana. 

A proper combination of abstract reasoning and practical illustration is the 
chief excellence in Prof. Davies' Mathematical works. I prefer his Arithmetics, 
Algebras, Geometry and Trigonometry to all others now in use, and cordially re- 
commend them to all who desire the advancement of sound learning. 

From Major J. H. Whittlesey, Government Inspector of Military Scliools. 

Be assured, I regard the works of Prof. Davies, with which I am acquainted, as 
by far the best text-books in print on the subjects which they treat. I shall _ cer- 
tainly encourage their adoption wherever a word from me may be of any avail. 
From T. McC. Baixantine, Prof Mathematics Cumberland College, Kentucky. 

\ have long taught Prof, Davies' Course of Mathematics, and I continue to like 
iheir working. 

From John McLean Bell, B. A., Prln. of Lower Canada College. 

I have used Davies' Arithmetical and Mathematical Series as text-books in tha 
schools under my charge for the last six years. These I have found of great effi- 
cacy in exciting, invigorating, and concentrating the intellectual faculties of the 

Ea^ treatise serves aa an introduction to the next higher, by the similarity of 
its reasonings and methods ; and the student is carried forward, by eacy and 
Igradual steps, over the whole field of mathematical inquiry, and that, too, in a 
hhorter time than is usually occupied in mastering a single department. _ I sincere- 
'*y and heartily recommend them to the sittention of my fellow-teachers in Canada. 

From D. "W. Steele, Prin. Philekoian Academy, Cold Springs, Texas. 
I havs used Davies' Arithmetics till I know them nearly by heart. A better 
..eries of school-books never were published. I have recommended them until 
they are now used in all this region of country. 



A large mass of similar " Opinions " may be obtained by addressing the pul> 
lishers for special circular for Davies' Mathematics. Isew recommendations ar< 
©ttblished in current numbers of the Educational Bulletin. 

19 



JVatlonal Series of Standard School-:Books. 

DAVIES' NATIONAL OOUESE of MATHEMATICS. 

ITS RECORD. 

In claiming for this series the first place among American text-books, of what 
ever class, the Publishers appeal to the magnificent record which its volumel 
have earned during the thirty-five years of Dr. Charles Davies' mathematical 
labors. The unremitting exertions of a life-time have placed the modern series oa 
the same proud eminence among competitors that each of its predecessors ha< 
successively enjoyed in a course of constantly improved editions, now rounded ttf 
their perfect fruition— for it seems almost that this science is susceptible of no 
farther demonstration. 

During the period alluded to, many authors and editors in this .department have 
Btarted into public notice, and by borrowing ideas and processes original with Dr. 
Davies, have enjoyed a brief j'opularity, but are now almost unknown. Many of 
the series of to-day, built upon a similar basis, and described as "modern books," 
are destined to a similar fate ; while the most far-seeing eye will find it difficult to 
fix the time, on the basis of any data afforded by their past history, when these 
books will cease to increase and prosper, and fix a still firmer hold on the affection 
of every educated American. 

One cause of this unparalleled popularity is found in the fact that the enterprise 
of the author did not cease with the original completion of his books. Always a 
practical teacher, he has incorporated in his text-books from time to time the ad- 
vantages of every improvement in methods of teaching, and every advance in 
science. During all the years in which he has been laboring, he constantly sub- 
mitted his own theories and those of others to the practical test of the class-room 
—approving, rejecting, or modifying them as the experience thus obtained might 
suggest. In this way he has been able to produce an almost perfect series of 
class-books, in which every department of mathematics has received minute and 
exhaustive attention. 

Nor has, he yet retired from the field. Still in the prime of life, and enjoying a 
ripe experience which no other living mathematician or teacher can -emulate, his 
pen is ever ready to carry on the good work, as the progress of science may de- 
mand. Witness his recent exposition of the "Metric System." which received 
the officiai endorsement of Congress, by its Committee on Uniform Weights and 

Measures. 

Davies' Ststbm is the acknowiedgbd National Standaed for thb 
United States, for the following reasons:— 

1st, It is the basis of instruction in the great national schools at West Point 
and Annapolis. 
2d. It has received the quasi endorsement of the National Congress. 
3d. It is exclusively used in the public schools of the National Capital. 
4th. The officials of the Government use it as authority in all cases involving 
mathematical questions. 

5th. Our great soldiers and sailors commanding the national armies and navies 
were educated in this system. So have been a majority of eminent scientists in 
ihis conntj-y. All these refer to " Davies " as authority. 

6th. A larger number of American citizens have received their education froa 
this than from any other series. 

7th. The series has a larger circulation throughout the whole country than any 
Other, being extensively used in every State in the Union. 

20 



The J\^ational Se^'les of Standard SchoolSooks. 

MATHEMATICS-Continued. 

PECK'S ARITHMETICS. 

By the Prof, of Mathematics at Columbia College, New York, 

1. Peck's First Lessons in Numbers, • • • $o 25 

Embracing all that is usually included in what are called Primary and Intel- 
lectual Arithmetics; proceeding gradually from object lessons to abstract num- 
bers; developing Addition and Subtraction simultaneously: with other attrac- 
tive novelties. 

2. Peck's Manual of Practical Arithmetic, • so 

An excellent " Brief" course, conveying a sufiSicient knowledge of Arithmetic 
for ordinary business purposes. 

It is thoroughly "practical," because the author believes the Theory cannot be 
studied with advantage until the pupil has acquired a certain facility in combin- 
ing numbers, which can only be had by practice. 

.... 90 



3. Peck's Complete Arithmetic, .... 

The whole subject— theory and practice— presented within very moderate 
limits. This author's most remarkable faculty of mathematical treatment is 
comprehended in three words : System, Conciseness, Lucidity. The directness 
and simplicity of this work cannot be better expressed than in the words of a 
correspondent who adopted the book at once, because, as he said, it is "free 
from that juggling with numbers'" practiced by many authors. 

From the " Galaxy,'" New York. 
■ In the " Complete Arithmetic " each part of the subject is logically developed. 
First are given the necessary definitions ; second, the explanations of such signs 
(if any) as are used; third, the principles on which the operation depends; 
fourth, an exemplification of the manner in which the operation is performed, 
which is so conducted that the reason of the rule which is immediately thereafter 
deduced is made perfectly plain ; after which follow numerous graded examples 
and corresponding practical problems. All the parts taken together are arranged 
in logical order. The subject is treated as a whole, and not as if made up of 
segregated parts. It may seem a simple remark to make that (for example) addi- 
tion is in principle one and the same everywhere, whether employed upon simple 
or compound numbers, fractions, etc., the only difference being in the unit in- 
volved ; but the number of persons who understand this practically, compared to 
the number who have studied arithmetic, is not very great. The student of the 
•' Complete Arithmetic" cannot fail to understand it. All the principles of the 
science are presented within moderate limits. Superfluity of matter— to supple- 
ment defective definitions, to make clear faulty demons ti-ations and rules ex- 
pressed either inaccurately or obscurely, to make provision for a multiplicity of 
cases for which no provision is requisite— has been carefully avoided. The 
definitions are plain and concise ; the principles are stated clearly and aecurately ; 
the demonstrations are full and complete ; the rules are perspicuous and compre- 
hensive ; the illustrative examples are abundant and well fitted to familiarize th« 
student with the application of principles to the problems of science and of 
every-day life. 

J^" The Definitions constitute the power of the book. We haye never seen 
them excelled for clearness and exactness.— /(??(;« School Journal. 



The JVational Series of Standard ScPiootSooks, 

PENMANSHIP. 

^ ^ » ' 

Beers' System of Progressive Penmanship. 

Per dozen $1 68 

This " round "hand " system of Penmanship in twelve numbers, com- 
mends itself by its Bimplicity and thoroughness. The first four numbers 
are primary books. Nos. & to 7, advanced books for boys. Nos. 8 to 10, 
advanced books for girls. Nos. 11 and 12, ornamental penmanship. 
These books are printed from steel plates (engraved by McLees), and are 
unexcelled in mechanical execution. Large quantities are annually Bojd. 

Beers' Slated Copy Slips, per set *50 

All beginners should practice, for a few weeks, slate exercises, familiar- 
izing them with the form of the letters, the motions of the hand and arm, 
&c., &c. These copy slips, S2 in number, supply all the copies found in a 
complete seiies of writing-books, at a triifling cost. 

Payson,Dunton&Scribner's Copy-B'ks.P- doz*l 80 

The National System of Penmanship, in three distinct series — (1) Com- 
mon School Scries, comprising the first six numbers ; (2) Business Series, 
Nos. 8, 11, and 12; (3) Ladies' Series, Nos, 7, 9, and 10. 

Fulton & Eastman's Chirographic Charts,*3 75 

To embellish the school room walls, and furnish class exercise in the 
elements of Penmanship. 

Payson's Copy-Book Cover, per hundred .*4 oo 

Protects every page except the one in use, and furnishes " lines " with propef 
Blope for the penman, under. Patented. 

National Steel Pens, Card with all kinds . . . *15 

Pronounced by competent judges the perfection of American-made pens, ftn4 
euperior to any foreign article. 

Index Pen, per gross ... 75 



SCHOOL SERIES. 

School Pen, per gross, . .$ 60 

Academic Pen, do . . 63 

Fine Pointed Pen, per gross 70 

POPULAR SERIES. 

Capitol Pen, per gross, . . 1 00 

do do pr. box of 2 doz. 25 

Bullion Pen (imit. gold) pr. gr. 75 

Ladies' Pen do 63 



BUSINESS SERIES. 

Albata Pen, per gross, . . 40 

Bank Pen, do . . TO 

Empire Pen, do . . 70 

Commercial fen, per gross . 60 

Express Pen, do . 75 

Falcon Pen, do . TO 

Elastic Pen, do . 75 



Stimpson's Scientific Steel Pen, per gross .*2 oo 

One forward and two backward arches, ensuring gi-eat strength, well- 
balanced elasticity, evenness of point, and smoothness of execution. One 
gross in twelve contains a Scientific Gold Pen. 

Stimpson's Ink-Retaining Holder, per doz. .*2 oo 

A simple apparatus, whic-. does not get out of order, withholds at a 
single dip as much ink as the pen would otherwise realize from a dozen 
trips to the inkstand, which it supplies with moderate and easy flow. 

Stimpson's Gold Pen, 13 oo; with Ink Retainer*^ 50 
Stimpson's Penman's Card, * 50 

One dozen Steel Pens (assorted points) and Patent Ink-retaining Pen 

22 



The J\^alional Series of Standard School- :Sook:s, 

HISTORY. 



Monteith's Youth's History, ....'.. 4 75 

A History of the United States for beginners. It is arranged upon the 
^ catechetical plan, with illustrative maps and engravings, review questions, 
' dates in parentheses (that their study may be optional with the younger 

class of learners), and interesting Biographical Sketches of all persona \ 

who have been prominently identified with the history of our country, 

Wiliard's United States, School edition, ... i 40 

Do. do. University edition, . 2 25 

The plan of th'is F|f,ndard work is chronologically exhibited in front of 
the title-page ; the Claps and Sketches are found useful assistants to the 
memory, and dates, usually so difficult to remember, are* bo systematically 
arranged as in a great degree to obviate the difficulty. Candor, impar- 
tiality, and accuracy, are the distinguishing features of the narrative 
portion. 

Willard's Universal History, 2 25 

The most valuable features of the " United States" are reproduced in 
this. The peculiarities of the work are its great conciseness and the 
prominence given to the chronological order of events. The margin 
marks each successive era with great distinctness, so that the pupil re- 
tains not only the event but its time, and thus fixes the order of history 
firmly and usefully in his mind. Mrs. Willard's books are constantly 
revised, and at all times written uj* to embrace important historical 
events of recent date. 

Berard's History of England, 17 

By an authoress well known for the success of her History of the United 
States. The social life of the English people is felicitously interwoven, 
as in fact, with the civil and military transactions of the realm. 

Ricord's History of Rome, i 75 

Possesses the charm of an attractive romance. The Fables with which 
this history abounds are introduced in such a way as not to deceive tlie 
inexperienced, while adding materially to the value of the work as a reli- 
able index to the character and institutions, as well as the history of the 
Eoman people. 

Banna's Bible History, i 25 

The only compendium of Bible narrative which affords a connected and 
chronological view of the important events thera recorded, divested ©f all 
superfluous detaiL 

Summary of History, Complete 60 

American History, $0 40. French and Eng. Hist. 35 

A well proportioned outline of leading events, condensing the substance of the 
more extensive text-book in common use into a series of statements so brief, that 
every word may be committed to memory, and yet so comprehensive that it 
presents an accurate though general view of tiie whole continuous life of DAtioiut. 

Marsh's Ecclesiastical History 2 oo 

Quef?tions to ditto, 75 

Affording the History of the Church in all ages, with accounts of the 
pagan world during Biblical periods, and the chai'acter, rise, and progress 
of all Religions, as well as the various sects of the worshiperg of Christ. 
The work is entirely non-sectarian, though strictly cutholic. 

Mill's History of the Jews, ....... l 75 

23 



T?ie JVatlonat Series of Standard Sc7ioot-CBooks. 
HISTORY-Continued. 

BARNES' ONE-TERM HISTORY. 
A Brief History of the United States, • • • $i so 

This is probably the most ORiGENAii schooi.-book published for many years, 
ia any department. A few of its claims are the following: 

1. Brevity'— The text is complete for Grammar School or intermediate 
classes, in 290 12mo pages, large type. It may readily be completed, if desired, in 
one term of study. 

2. Comprehensiveness.— Though so brief, this book contains the pith of ai3 
the wearying contents of the larger manuals, and a great deal more than the mem- 
ory usually retains from the latter. 

3. Interest has been a prime consideration. Small books have heretofore 
been bare, full of dry statistics, unattractive. This one is charmingly written, 
replete with anecdote, and brilliant with illustration. 

4. Proportion of Events.— it is remarkable for the discrimination with 
which the different portions of our history are presented according to their im- 
portance. Thus the older works being already large books when the civil war 
took place, give it less space than that accorded to the Revolution. 

5. Arrangement.— In six epochs, entitled respectively, Discovery and Settle- 
ment, the Colonies, the Revolution, Growth of States, the Civil War, and Current 
Events. 

6. Catch Words. — Each paragraph is preceded by its leading thought in 
prominent type, sjt^nding in the student's mind for the whole paragraph. 

.7. Key Notes. — Analogous with this is the idea of grouping battles, etc., 
about some central event, which relieves the sameness so common in such de- 
scriptions, and renders each distinct by some striking peculiarity of its own. 

8. Foot Notes.— These are crowded with interesting matter that is not 
strictly a part of history proper. They may be learned or not, at pleasure. They 
are certain in any event to be read. 

9. Biographies of aU the leading characters are given in full in foot-notes. 

10. Maps. — Elegant and distlact Maps from engravings on copper-plate, and 
beautifully colored, precede each epoch, and contain all the places named. 

11. Questions are at the back of the book, to compel a more independent use 
rf the text. Both text and questions are so worded that the pupil must give in- 
i tUigent answers in his own words. " Yes " and " No " will not do. 

12. Historical Recreations.— These are additional questions to test the stu- 
dent's knowledge, in review, as: "What trees are celebrated in our history?" 
" When did a fog save our army ? " " What Presidents died in oflice ? " " When 
was the Mississippi our western boundary ? " " Who said, ' I would rather be 
right than President ? ' " etc. 

13. The Illustrations, about seventy in number, are the work of our best 
artists and engravers, produced at great expense. They are vivid and interest- 
ing, and mostly upon subjects never before illustrated in a school-book. 

14. Dates.— Only the leading dates are given in the text, and these are bo 
associated as to assist the memory, but at the head of each page is the date of \)a.Q 
event first mentioned, and at the close of each epoch a summary of events and dates. 

15. The Philosophy of History is studiously exhibited— the causes and 
effects of events being distinctly traced and their interconnection shown. 

16. Impartiality. —All sectional, partisan, or denominational views are 
avoided. Facts are stated after a careful comparison of all authorities without 
the least prejudice or favor. 

17. IndeS.— A verbal Itidex at the close of the book perfects it as a work of 
reference. 

It will be observed that the above are all particulars in which School HistoricB 
have been signally defective, or altogether wanting. Many other claims to favor 
H shares in common with its pjcdecessors. 

24 



The JVatianat Series of Standard Sc?iool'!Sooks. 

HISTORY-Continued. 

Hunter's Historical Games, with cards . . . lo 75 

An invaluable accompaniment for the text-book, by way of Btimulating interest 
in the Class ; affording, at once. Amusement and Instructioij, 

SOME TESTIMONIALS FOR BARNES' BRIEF HISTORY. 

From Hon. J. M. McKenzie, Supt. Pub. Inst, NebrasM. 
I have examined your "Brief History of the United States," and like it real well; 
and were I teaching a graded school, I think I should use it as a text-book. 
From Hon. H. B. Wilson, Supt. Pub. Inst, Minnesota. 
I have read with much interest the "■ One-Term History of the United States." I 
am much pleased with it. In my judgment, it contains all of the United States his- . 
tory that the majority of pupils in our common schools can spare time to study. 
From Pees. Edward Brooks, Millersville State Normal Sclwol, Pa. 
It is a work that will be a favorite with teachers and pupils. Its scope and style 
especially adapt it for use in our public schools. I cordially commend it to teachers 
desiring to introduce an interesting and practical text-book upon this subject. 

From Pkes. Barker, Bvffalo State Normal School, N. Y. 
In the copy of your " Brief History," before me, the important items to be learned 
in history seem most ingeniously brought out and kept in the foreground. These 
items are time, persons, 2)laces, and events. It has the appearance of an exceedingly 
fresh and systematic work.' I think I shall put it into my classes. 

From Proe. Wm. F. Allen, State Univ. of Wisconsin. 
I think the author of the new " Brief History of the United States " has been very 
successful in combining brevity with sufficient fullness and interest. Particularly, 
he has avoided the excessive number of names and dates that most histories con- 
tain. Two features that I like very much are the anecdotes at the foot of the page 
and the " Historical Recreations " in the Appendix. The latter, I think, is quite a 
new feature, and the other is very well executed. 

From S. G. Wright, Assist-Supt. Pub. Inst, Kansas. 
It is with extreme pleasure we submit our recommendation of the " Brief History 
of the United States." It meets the needs of young and older children, combining 
concision with perspicuity, and if "brevity is the soul of wit," this "Brief His- 
tory " contains not only that well-chosen ingi'edient, but wisdom sufficient to en- 
lighten those students who are wearUy longing for a " new departure " from certain 
old and uninteresting presentations of fossilized writers. We congratulate a pro- 
gressive public upon a progressive book. 

From Hon. Newton Bateman, Supt. Pub. Inst, Illinois. 

Barnes' One-Term History of the United States is an exceedingly attractive and 
spirited little book. Its claim to several new and valuable features seems well 
founded. Under the form of six well-defined EpochSj the History of the United 
States is traced tersely, yet pithily, from the earliest times to the present day. A 
good map precedes each epoch, whereby the history and geography of the period 
may be studied together, as they always should be. The syllabus of each paragraph 
is made to stand in such bold relief, by the use of large, heavy type, as to oe of 
much mnetnonic value to the student. The book is written m a sprightly and 
piquant style, the interest never flagging from beginning to end— a rare and difQcult 
achievement in works of this kind. 

From the " Chicago ScTwolmaster " {Editorial). 

A thorough examination of Barnes' Brief History of the United States brings the 
examiner to the conclusion that it is a superior book in almost every respect. The 
book is neat in form, and of good material. The type is clear, large, and distinct. 
Th3 facts and dates are correct. The arrangement of topics is just the thing needed 
in a history text-book. By this arrangement the pupil can see at once what he is 
expected to do. The topics are well selected, embracing the leading ideas or prin- 
cipal events of American history. . . . The book as a whole is much superior 
to any I have examined. So much do I think this, that I have ordered it for my 
class, and shall use it in my school. (Signed) B. W. Baker. 

Baker's Brief History of Texas, ..... $i 25 

25 



77ie JVailonal Series of Standard Schoot-^ooks. 

DRAWING. 



Chapman's American Drawing Book, . . .*I6 oo 

The standard American text-book and authority in all branches of art. A com' 
pilation of art principles. A manual for the amateur, and basis of study for the pro- 
fessional artist. Adapted for schools and private instruction. 

Contents.— "Anj[ one who can Learn to Write can" Learn to Draw." — Primary 
Instruction in Drawing.— Rudiments of Drawing the Human Head. — Rudiments in 
Drawing the Human Figure.— Rudiments of Drawing.— The Elements of Geometry.— 
Perspective.— Of Studying and Sketching from Nature.— Of Painting.— Etching and 
Engraving. — Of Modeling. — Of Composition —Advice to the American Art-Student. 

The work is of course magnificently illustrated with all the original designs. 

Chapman's Elementary Drawing Book, . . i 50 

A Progressive Course of Practical Exercises, or a text-book for the training of the 
eye and hand. It contains the elements from the larger work, and a copy should 
be in the hands of every pupil; while a copy of the ^'American Drawing Book," 
named above, should be at hand for reference by the class. 

The Little Artist's Portfolio, *50 

25 Drawing Cards (progressive patterns), 25 Blanks, and a fine Artist's Pencil, 
all in one neat envelope. 

Clark's Elements of Drawing, *i oo 

A complete course in this graceful art, from the first rudiments of outline to the 
finished sketches of landscape and scenery. 

Fowle's Linear and l^erspective Drawing, . *60 

For the cultivation of the eye and hand, with copious illustrations and direc- 
tions for the guidance of the unskilled teacher. 

Monk's Drawing Books— Six Numbers, per set, *2 25 

Each book contains deven large patterns, with opposing blanks. No. 1. Elemen' 
tary Studies. No. 2. Studies of Foliage. No. 3. Landscapes. No. 4. Animals, L 
No. 5. Animals, IL No. 6. Marine Views, etc. 

Allen's Map-Drawing, . . . 25cts.; Scale, 25 

This method introduces a new era in Map-Drawing, for the following reasons :— 
1. It is a system. This is its greatest merit.— 2. It is easily understood and taught. 
— .3. The eye is trained to exact measurement by the use of a scale.— 4, By no spe- 
cial effort of the memory, distance and comparative size are fixed in the mind.— 
5. It discards useless construction of lines.— 6. It can be taught by any teacher, even 
though there may have been no previous practice in Map-Drawing. — 7. Any pupil 
old enough to study Geofflraphy can learn by this System, in a short time, to draw 
accurate maps.— 8. The System is not the result of theory, but comes directly from 
the school-room. It has been thoroughly and successfully tested there, with all 
grades of pupils.- 9. It is economical, as it requires no mapping plates. It gives 
the pupil the ability of rapidly drawing accurate maps. 

Ripley's Map-Drawing, 1^5 

Based on the Circle. One of the most efficient aids to the acquirement of a 
knowledge of Geography is the practice of map-drawing. It is useftil for the same 
reason that the best exercise in orthography is the writing of difficult words. 
Sight comes to the aid of hearing, and a double impression is produced upon the 
memory. Knowledge becomes less mechanical and more intuitive. The student 
who has sketched the outlines of a country, and dotted the important places, is little 
likely to forget either. The impression produced may be compared to that of a 
traveller who has been over the ground, while more comprehensive aad accurate in 
detail. 

26 



The JVationat Series of Standard SchoolSo6k$» 

BOOK-KEEPING. 



Folsom's Logical Book-keeping, S200 

Folsom's Blanks to Book-keeping, .... *4 50 

This treatise embraces the interesting and important discoveries 
of Prof. Folsom (of the Albany " Bryant & Stratton College"), fehe par- 
tial enunciation of which in lectures and otherwise has attracted so 
much attention in eirclea interested in commercial education. 

After studying business phenomena for many years, he has arrived 
at the positive laws and principles that underlie the whole subject of 
Accounts ; finds that the science is based in Value as a generic term ; 
that value divides into two classes with varied species ; that all the 
exchanges of values are reducible to nine equations ; and that all the 
results of all these exchanges are limited to thirteen in number. 

As accounts have been universally taught hitherto, without setting 
out from a radical analysis or definition of values, the science has 
been ke.pt in great obscurity, and been made as difficult to impart as 
to acquire. On the new theory, however, these obsstacles are chiefly 
removed. In reading over the first part of it, in which the governing 
laws and principles are discussed, a person with ordinary intelligence 
will obtain a fair conception of the double entry process of accounts. 
But when he comes to study thoroughly theee laws and principles as 
there enunciated, and works out the examples and memoranda which 
elucidate the thirteen results of business, the student will neither fail 
in readily acquiring the science as it is, nor in becoming able intelli- 
gently to apply it in the interpretation of business. 

Smith & Martin's Book-keeping, l S5 

Smith & Martin's Blanks, *60 

This work is by a practical teacher and a practical book-keeper. 
It is of a thoroughly popular class, and will be welcomed by every 
one who loves to see theory and practice combined in an easy, con- 
cise, and methodical form. 

The Single Entry portion is well adapted to supply a want felt in 
nearly all other treatises, which seem to be prepared mainly for the 
nse of wholesale merchants, leaving retailers, mechanics, farmers, 
etc., who transact the greater portion of the business of the country, 
without a guide^ The work is also commended, on this account, for 
general use in Young Ladies' Seminaries, where a thorough ground- 
ing in the simpler form of accounts will be invaluable to the future 
housekeepers of the nation. 

The treatise on Double Entry Book-keeping combines all the ad- 
vantages of the most recent methods, with the utmost simplicity of 
application, thus aff'ording the pupil all the advantages of actual ex- 
perience in the counting-house, and giving a clear comprehension of 
the entire subject through a judicious course of mercantile trans- 
actions. 

The shape of the book is such that the transactions can be pre- 
sented as in actual practice ; and the simplified foi*m of Blanks — 
three in number— adds greatly to the ease experienced in acquiring 
the science. 

27 



The JVaiiofiat Series of Standard Schoot-^ooks, 

NATURAL SGIENOE. 



FAMILIAR SCIENCE. 
Norton & Porter's First Book of Science, • ti 75 

By eminent Professors of Yale College. Contains the principles of Natural 
Philosophy, Astronomy, Chemistry, Physiology, and Geology. Arranged on the 
Catechetical plan for primary classes and beginners. 

Chambers' Treasury of Knowledge, .... i 25 

Progressive lessons yy^on— firsts Common things which lie most immediately 
iround us, and first attract the attention of the young mind ; second, common objects 
from the Mineral, Animal, and Vegetable kingdoms, manufactured articles, and 
miscellaneous substances ; thirds a systematic view of Nature under the various 
sciences. May be used as a Reader or Text-book. 

NATURAL PHILOSOPHY. 
Norton's First Book in Natural Philosophy, 1 00 

By Prof. Norton, of Yale College.- Designed for beginners. Profusely illustrated, 
and arranged on the Catechetical plan. 

Peck's Ganot's Course of Nat. Philosophy, . 1 '^5 

• The standard text-book of France, Americanized and popularized by Prof. P3e;ck, 
of Columbia College. The most magnificent system of illustration ever" adopted in 
an American school-book is here found. For intermediate classes. 

Peck's Elements of Mechanics, . . • • . • 2 00 

A suitable introduction to Bartlett's higher treatises on Mechanical Philosophy, 
and adequate in itself for a complete academical course. 

Bartlett's synthetic, m amlytic, Mechanics, • each 5 00 
Bartlelt's Acoustics and Optics, ..... 3 50 

A system of Collegiate Philosophy, by Prof. Bartlett, of West Point Military 
Academy. 

Steele's 14 Weeks Course in Philos. (see p. 34) 1 50 
Steele's Philosophical Apparatus, .... *125 00 

Adequate to performing the experiments in the ordinary text-books. The articles 
will be sold separately, if desired. See special circular for details. 

GEOLOGY. 
Page's Elements of Geology, i-^s 

A volume of Chambers' Educational Course. Practical, simple, and eminently 
calculated to make the study interesting. 

Emmons' Manual of Geology, 1 ^5 

The first Geologist of the country has here produced a work worthy of his repu- 
tation. 

Steele's 14 Weeks Course (see p. 34) . . . . . 1 so 
Steele's Geological Cabinet, *40 00 

Containing 125 carefully selected specimens. In four parts. Sold separately, ii 
desired. See circular for details. 

28 



The JV^allona^ 6'eries of Stanaard Sc?iool-^ooks, 

Peck's Ganot's Popular Physics. 

T E S T I M O JNT I A L S. 

From Prof. Axonzo Coixin, Cornell College^ Iowa. 
I am pleased with it. I have decided to introduce it as a text-book. 

From H. F. Johnson, President Madison College, Sharon, Miss, 
I am pleased with Peck's Ganot, and think it a magnificent book. 

From Peof. Edwabd Brooks, Pennsylvania State Normal School. 
So eminent are its merits, that it will be introduced as the text-book upMi ela 
tnentary physics in this institution. 

From H. H. Lockwood, Professor Natural Philosophy U. S. Naval Academy. 
I am so pleased with it that I will probably add it to a course of lectures given to 
the midshipmen of this school on physics. 

From Geo. S. Mackie, Professor Natural Eidory University of Nashville, Tenn. 

I have decided on the introduction of Peck's Ganot's Philosophy, as I am satis- 
fied that it is the best book for the purposes of my pupils that 1 have seeii, con«. 
bining simplicity of explanation with elegance of illustration. 

From W. S. McEae, Superintendent Vevay Public Schools, Indiana. 
Having carefully examined a number of text-books on natural philosophy, I da 
not hesitate to exi^ress my decided opinion in favor of Peck's Ganot. The matter, 
style, and illustration eminently adapt the work to the popular wants. 

From 'Ret. Samuel McKinnet, D.D., PresH Austin College, Huntsville, Texas. 

It gives me pleasure to commend it to teachers. I have taught some classes wit^i 
It as our text, and must say, for simphcity of style and clearness of illustration, I 
have found nothing as yet published of equal value to the teacher and pupil. 

From C. V. Speae, Principal Maplewood Institute, Pittsjield, Ifass. 
I am much pleased with its ample illustrations by plates, and its cleamess and 
eimplicity of statement. It covers the ground usually gone over by our higher 
classes, and contains many fresh illustrations from life or daily occurrences, and 
new applications of scientific principles to such. 

From J. A. Baneield, Superintendent Marshall Public Schools, Michigan. 
I have used Peck's Ganot since 1863, and with increasing pleasure and satisfac* 
tion each term. I consider it superior to any other work on physics in its adapta- 
tion to our high schools and academies. Its illustrations are superb— better 
than three times their number of pages of fine print. 

From A. Schutlee, Prof, of MathemMics in Baldwin University, Berea, Ohio. 

After a careful examination of Peck's Ganot's Natural Philosophy, and an actual 
^est of its merits as a text-book, I can heartily recommend it as admirably adapted 
to meet the wants of the grade of students for which it is intended. Its diagram* 
and illustrations are unrivaled. We use it in the Baldwin University. 

From D. C. Yan Norman, Principal Van Norman Institute, New TorJc. 
The Natural Philosophy of M. Ganot. edited by Prof. Peck, is, in my opinion, 
fhe best work of its kind, for the use intended, ever published in this country. 
Whether regarded in relation to the natural order of the topics, the precision and 
cleai-ness of its definitions, or the fullness and beauty of its illustrations; it is cer- 
tainly, I think, an advance. 



5^" For many similar testimonials, see current numbers of the BhiBtmted Ed 
OCational Bolietin. 

29 



The JV^ational Series of Standard School-^ooks, 

NATURAL SCIENCE-Continued. 

CHEMISTRY. 

Porter's First Book of Chemistry, . . . . Ii oo 
Porter's Principles of Chemistry, ..... 2 oo 

The above are widely known as the productions of one of the most eminent scien- 
tific men of America. The extreme simplicity in the method of presenting the 
Bcience, while exhaustively treated, has excited universal commendation. 

Darby's Text-Book of Chemistry, i "^5 

Purely a Chemistry, divesting the subject of matters comparatively foreign to it 
(such as heat, light, electricity, etc.), but usually allowed to engross too much atten- 
tion in ordinary school-books. 

Gregory's Organic Chemistry, 2 50 

Gregory's Inorganic Chemistry, 2 50 

The science exhaustively treated. For colleges anfl medical students. 

Steele's Fourteen Weeks Course, ..... i 50 

A successful effort to reduce the study to the limits of a single term, thereby 
making feasible its general introduction in institutions of every character. The 
author's felicity of style and success in making the science pre-eminently interest- 
ing are peculiarly noticeable features. (See page 34.) 

Steele's Chemical Apparatus, *^o oo 

Adequate to the performance of all the important experiments. 

B O T AtT Y. 
Thinker's First Lessons in Botany, .... 40 

For children. The technical terms are largely dispensed with in faror of an 
easy and familiar style adapted to the smallest learner. 

Wood's Object-Lessons in Botany, .... i so 
Wood's American Botanist and Florist, . . 2 50 
Wood's New Class-Book of Botany, . : . . 3 50. 

The standard text-books of the United States in this department. In style they 
are simple, popular, and lively ; in arrangement, easy and natural ; in description, 
graphic and strictly exact. The Tables for Analysis are reduced to a perfect sys- 
tem. More are annually sold than of all others combined. 

Wood's Plant Record, *75 

A simple form of Blanks for recording observations in the field. 

Wood's Botanical Apparatus, *8 oo 

A portable Trunk, containing Drying Press, Knife, Trowel, Microscope, and 
Tweezers, and a copy of Wood s Plant Kecord — composing a complete outfit for 
the collector. 

Young's Familiar Lessons, 2 oo 

Darby's Southern Botany, 2 oo 

Embracincj general Structural and Phypiological Botany, with vegetable products, 
and descriptions of Southern plants^ and a comnlete Flora of the Southern States, 

30 



The JVaHonal Series of Sta77da7'd School-^Books. 

WOOD'S BOTANIES. 



•TESTI3>w!i:03Sri.A.IL.S- 

Frmn Pbes. K. B. Burleson, Waco University^ Texas. 
Wood's Botanies— books that meet every want in their line. 

From Prdt. J. G. Ralston, Norristown Seminary, Pa. . 
We find the " Class-Book " entirely satisfactory. 

From Pres. D. F. Bittle, JtoanoTce College, Va. 
Your text-books on Botany are the best for students. 

From Prop. W. C. Peerce, Baldwin University, Ohio. 
I tlvWk his Flora the best we have. His method of analysis is excellent. 

From Prof. Blakeslee, State Normal School, Potsdam, JV. Y. 
It Is admirably concise, yet it does not seem to be deficient or obscure. In paper, 
print, and binding, the book leaves little to be desired. 

From Pres. J. M. Gregory, State Agricultural College, IU~ 
I find myself greatly pleased with the perspicuity, compactness, and complete- 
ness of the book (Wood's Botanist and Florist). I shall recommend it frgely to my 
friends. 

From Prop. A. Wlnchell, University of Michigan. 
I am free to Bay that I had been deeply impressed, I may say almost astonished, 
at the evidences which the work bears of skillful and experienced authorship in 
this field, and nice and constant adaptation to the wants and conveniences of 
students of Botany. I pronounce it emphatically an admirable text-book. 

From Prof. Richard Owen, University of Indiana. 
I am well pleased with the evidence of philosophical method exhibited in the 
general arrangement, as well as with the clearness of the explanations, the ready 
intelligibility of the analytical tables, and the illustrative aid furnished by the 
numerous and excellent wood-cuts. I design using the work as a text-book with 
my next class. 

From Prin. B. R. Anderson, Columbus Union School, Wisconsin. 
I have examined several works with a view to recommending some good text- 
book on Botany, but I lay them all aside for "Wood's Botanist and Florist." The 
arrangement of the book is in my opinion excellent, its style fascinating and attrac- 
tive, its treatment of the various departments of the science is thorough, and last, 
but far from unimportant, I like the topical form of the questions to each chapter. 
It seems to embrace the entire science. In fact, I consider it a complete, attractive, 
ftnd exhaustive work. 

From'M. A. Marshall, Mw Haven High School, Conn. 
It has all the excellencies of the well-known Class-Book of Botany by the same 
author in a smaller book. By a judicious system of condensation, the size of the 
Flora is reduced one-half, while no species are omitted, and many new ones are 
added. The descriptions of species are very brief, yet sufficient to identify the 
plant, and, when taken in connection with the generic description, form a complete 
description of the plant. The book as a whole will suit the wants of classes better 
than anything I have yet seen. The adoption of the Botanist and Florist would 
not require the exclusion of the Class-Book of Botany, as they are so arranged that 
both might be used by the same class. 

Frofn Prop. G. H. Perkins, University of Vermont and State Agricultural College. 
I can truly say that the more I examine Wood's Class-Book, the better pleased I 
am with it. In its illustrations, especially of particulars not easily observed by the 
student, and the clearness and compactness of its statements, as well as in the ter- 
ritory its flora embraces, it appears to me to surpass any other work I know of. 
The whole science, so far as it can be taught in a college course, is well presented, 
and rendered unusually easy of comprehension. The mode of analysis is excellent, 
avoiding as it does to a great extent those microscopic characters which puzzle the 
beginner, and using those that are obvious as far as possible. I regard the work ai 
a most admirable one, and shall adopt it as a text-book another year. 

31 . 



The JVatio7i<it Series of Standa7^d Schoot-7>ooks. 

NATURAL SCIENCE-Continued. 

PHYSIOLOG-Y. 

Jarvis' Elements of Physiology, $75 

Jarvis' Physiology and Laws of Health, . i 65 

The cnly books extant -which approach this subject with a proper view 
of the trua object of teaching Physiology in schools, viz., that scholars 
may know feow to take care of their own health. In bold eontrast -with 
the abstract Anatomies, -which children learn as they -would Greek or 
Latin (and forget as soon), to discipline the mind, are these text-books, • 
using the science as a secondary consideration, and only so far as is 
necessary for the comprehension of the toi«s of health. 

Hamilton's Vegetable & Animal Physiology, l 25 

' The two branches of the science combined in one volume lead the stu- 
dent to a proper comprehensioa of the Analogies of Nature. 

Steele's Fourteen Weeks Course (see p. 34), . i so 

ASTRONOMY. 
Steele's Fourteen Weeks' Course, . . . . . i 50 

Reduced to a single term, and better adapted to school use than any 
work hei-etofore published. Not written for the information of scientific 
men, but for the inspiration of youth, the pages are not burdened with a 
multitude of figures which no memory could possibly retain. The whole 
subject is presented in a clear and concise f9rm. (See p. 34.) 

¥/illard's School Astronomy, .100 

By means of clear and attractive illustrations, addressing the eye in 
many cases by analogies, careful definitions of all necessary technical 
terms, a careful avoidance of verbiage and unimportant matter, particular 
attention to analysis, and a general adoption of the simplest methods, 
Mrs. Willard has made the best and most attractive elementary Astron- 
omy extant. 

Mclntyre's Astronomy and the. Globes, • . 1 50 

A complete treatise for intermediate classes. Highly approved. 

Bartlett's Spherical Astronomy, 5 00 

The West Point course, for advanced classes, with applications to the 
current wants of Navigation, Geography, and Chronology. 

NATURAL HISTORY. 
Carll's Child's Book of Natural History, . . 50 

Illustrating the Animal, Vegetable, and Mineral Kingdoms, witk appli- 
cation to the Arts. For beginners. Beautifully and copiously illustrated. 

ZOOLOGY. 
Chambers' Elements of Zoology, • .. . • • 1 50 

A complete and comprehensive system of Zoology, adapted for aca- 
demic instruction, presenting a systematic view of the Animal Kingdom 
as a portion of external Nature. 

32 



National Series of Standard School-^ooks, 

Jarvis' Physiology and Laws of Health. 

TESTIMONIALS. 
Frvm Samuel B. McLane, Superintendent Public Schools, Keokuk^ Iowa. 
I am glad to see a really good text-book on this much neglected branch, Thii ii 
dear, concise, accurate, and eminently adapted to the class-rooin. 

From 'WrLLiAJn F. Wyees, Principal of Academy, West Cliester, Pennsylvania. 

A t]K)rough examination has satisfied me of its superior claims as a text-book to tb« 
^tention of teacher and taught. I shall introduce it at once. 

From H. R. Sanfokp, Principal of East Oenesee Conference Seminxxry, N. Y. 
, " Jarvis' Physiology" is received, and fully met our expectations. We immediately 
adopted it. 

From Isaac T. Goodnow, State Superintendent of Kansas— puUisTied in connection 
with the " School Law." 

♦• Jarvis' Physiology," a common-sense, practical work, with just enou>^h of anat- 
omy to understand the physiological portions. The last six pages, on Man's Sespon 
sibUity for his own health, are worth the price of the book. 

From D. "W. Stevens, Superintendent Public Schools, Fall River, Mass. 
I have examined Jarvis' " Physiology and Laws of Health," which you had the 
kindness to send to me a short time ago. In my judgment it is far the best work of 
the kind within my knowledge. It has been adopted as a text-book in our public 



From Henet G. Denny, Chairman Book Committee, Boston, Mass. 
The very excellent " Physiology " of Dl. Jarvis I had introduced into our High 
School, where the study had been temporarily dropped, believing it to be by far the 
best work of the kind that had come under my observation; indeed, the reintroduc- 
tion of the study was delayed for some months, because Dr. Jarvis' book could not be 
had, and we were uaiwilling to take any other. 

From Peof. A. P. Peabodt, D.D., LL.D., Harvard Univsrsity. 
• • I have been in the habit of examining school-books with great care, and I 
hesitate not to say that, of all the text-books on Physiology which have been given to 
the public, Dr. Jarvis' deserves the first place on the score of accuracy, thoroughness, 
method, simplicity of statement, and constant reference to topics of practical interest 
and utility. 

From James N. Townbend, Superintendent Public Schools, Hudson, N. Y. 
Every human being is appointed to take charge of his own body ; and of all hooka 
written upon this subject, I know of none which will so well prepare one to do this as 
*' Jarvis' Physiology" — that is, in so small a compass of matter. It considers the 
pure, simple laws of health paramoimt to science ; and though the work is thoroughly 
scientific, it is divested of all cumbrous technicalities, and presents the subject of phy- 
sical life in a manner and style really charming. It is unquestionably the best text- 
book on physiology I have ever se«n. It is giving great satisfaction in the schools of 
this city, where it has been adopted as the standard. 

From L. J. Sanfoed, M.D., Prof. Anatomy and Physiology in Yale College 
Books on human physiology, designed for the use of schools, are more generally a 
failure perhaps than are school-books on most other subjects. 

The great want in this department is met, we think, in the well-written treatise of 
Dr. Jarvis, entitled " Physiology and Laws of Health." « * The work is not too 
detailed nor too expansive in any department, and is clear and concise in all. It is 
not burdened with an excess of anatomical description, nor rendered discursive by 
many zoological references. Anatomical statements are made to the extent of quali- 
fying the student to attend, understandingly, to an exposition of those functional pro • 
eesses which, collectively, make up health ; thus the laws of health are enunciated, 
and many suggestions are given which, if heeded, will tend to ita preservation. 



t^~ For further testimony of similar character, see current numbers of the illua 
^rutfld Educational Bulletin, 

33 



The JVational Series of Standard School-!Books. 



NATURAL SCIENCE. 

^« ♦ «^ 

"FOUETEEN WEEKS" IN EACH BEANOH. 

By J. DORM AN STEELE, A.M. 

Steele's 14 Weeks Course in Chemistry '^, $i 50 
Steele's 14 Weeks Course in Astronomy . i so 
Steele's 14 Weeks Course in Philosophy . i so 
Steele's 14 Weeks Course in Geology. • i so 
Steele's 14 Weeks Course in Physiology • i so 

Our Text-Books in these studies are, as a general thing, dull and uninteresting. 
They contain from 400 to 600 pages of dry facts and unconnected details. They 
abound in that which the student cannot learn, much less remember. The pupU 
commences the study, is confused by the fine priat and coarse print, and neither 
knowing exactly what to learn nor what to hasten over, is crowded through the 
single term generally assigned to each branch, and frequently comes to the close 
without a definite and exact idea of a single scientific principle, 

Steele's Fourteen Weeks Courses contain only that which every well-informed 
person should know, whUe aU that which concerns only the professional scientist 
is omitted. The language is clear, simple, and interesting, and the illustrations 
bring the subject within the range of home life and daily experience. They give 
such of the general principles and the prominent facts as a pupU can make famil- 
iar as household words within a single term. The type is large and open; there 
is no fine print to annoy ; the cuts are copies of genuine experiments or natural 
phenomena, and are of fine execution. 

In fine, by a system of condensation peculiarly his own, the author reduces each 
branch to the limits of a single term of study, while sacrificing nothing that is es- 
sential, and nothing that is usually retained from the study of the larger manuals 
in common use. Thus the student has rare opportunity to economize his time, or 
rather to employ that which he has to the best advantage. 

A notable feature is the author's charming " style," fortified by an enthusiasm 
over his subject in which the student will not fail to partake. Believing that 
Natural Science is full of fascination, he has moulded it into a form that attracts 
Tthe attention and kindles the enthusiasm of the pupU. 

The recent editions contain the author's " Practical Questions " on a plan never 
before attempted in scientific text-books. These are questions aa to the naturo 
and cause of common phenomena, and are not directly answered in the text, the 
design being to test and promote an intelligent use of the student's knowledge of 
the foregoing principles. 

Steele's General Key to his Works- . • . *i so 

This work is mainly composed of Answers to the Practical Questions and Solu- 
tions of the Problems in the author's celebrated "Fourteen Weeks Courses " in 
the several sciences, with many hints to teachers, minor Tables, &c. Should b« 
oa every teacher's desk. 

34 



The ^"ational Series of Standard SchoolSooks* 

W — — — _ M 

Steele's 14 Weeks in each Science. 

T E S T I M O If I A L S . 

From L. A. Bikle, President N. G. College. 
I have not been disappointed. Shall take pleasure in introducing thia ecriea. 

From J. F. Cox, Prest. Southern Female College^ Ga. 
1 am much pleased with these books, and expect to introduce them. 

From J. K. Branham, Prin. Brownsville Female College^ Tenn. 
They are capital little books, and are now in use in our institution. 

From W. H. Goodale, Professor Beadville Seminary, La. 
"We are using your 14 Weeks Course, and are much pleased with them. 

From W. A. Boles, Supt. ShelbyvUle Graded School, Ind. 
They are as entertaining as a story book, and much more improving to the mind. 

From S. A. Skow, Prindpal of Exgh School, Uxbridge, Mass. 

Steele's 14 Weeks Courses in the Sciences are a perfect success. 

From John W. Doughty, Neioburg Free Academy, N. Y. 

T was prepared to find Prof. Steele's Course both attractive and instructive. My 
highest expectations have been fully realized. 

From J. S. Blackweix,, iVes^. Ghent College, Ky. 

Prof. Steele's unexampled success in providing for the wants of academic classes, 
has led me to look forward with high anticipations to his forthcoming issue. 

From J. F. Cook, Prest. La Grange College, Mo. 

I am pleased with the neatness of these books and the delightful diction. I have 
been teaching for years, and have never seen a lovelier little volume than the As- 
tronomy. 

From M. W. Smith, Prin. of High School, Morrison, 111 

They seem to me to be admirably adapted to the wants of a public school, con- 
taining, as they do, a sufficiently comprehensive arrangement of elementary prin- 
ciples to excite a healthy thirst for a more thorough knowledge of those sciences. 

From J. D. Babtlet, Pt^n. of High School, Co7icord, iV. H. 

Thay are just such books as I have looked for, viz., those of interesting style, 
not cumbersome and filled up with things to be omitted by the pupil, and yet suf- 
ficiently full of facts for the purpose of most scholars in these sciences in our high 
schools ; there is nothing but what a pupU of average ability can thoroughly 
master. 

From AiiONZo Norton Lewis, Principal of Parker Academy, Conn. 

I consider Steele's Fourteen Weeks Courses in Philosophy, Chemistry, «S!c., the 
best school-books that have been issued in this country. 

As an introduction to the various branches of which they treat, and especially 
for that numerous class of pupils who have not the time for a more extended 
course, I consider them invaluable. 

From Edward Brooks, Prin. State Mrmal ScTwol, Mllersville, Pa. 

At the meeting of Normal School Principals, I presented the following resolu- 
tion, which was unanimously adopted: '''• Resotved, That Steele's 14 Weeks 
Courses in Natural Philosophy and Astronomy, or an amount equivalent to what 
is contained in them, be adopted for use in the State Normal Schools of Pennsyl- 
vania." The works themselves will be adopted by at least three of the Bchools, 
And, I presume, by them all. 

35 



' JVationat Series of Staiidard School-^^ooks, 

LITERATURE. 

'■ — ^ ^ » 

Cleveland's Compendiums .... each, $*2 50 

English Litehatube. Ameeican Literature. 

English Liteeature of the XIXth Century. 

In these volumes are gathered the cream of the literature of the English speak, 
ing people for the school-room and the general reader. Their reputation ia 
B.itional. More than 125,000 copies have been sold. 

Boyd's English Classics ..... each, *i 25 

Milton's Paradise Lost. Thomson's Seasons. 

Young's Night Thoughts. Pollok's Course of Time. 

Cowper's Task, Table Talk, &c. Lord Bacon's Essays. 

This series of annotated editions of great English writers, in prose and poetry, 
is designed for critical reading and parsing in schools. Prof. J. R. Boyd proves 
himself an editor of high capacity, and the vporks themselves need no encomium. 
As auxiliary to the study of Belles Lettres, etc., these works have no equal. 

Pope's Essay on Man ......... *20 

Pope's Homer's Iliad . *80 

The metrical translation of the gresft poet of antiquity, and the matchles« 
'* Essay on the Nature and State of Man," by AiiEXANDEK Pope, afford superior 
exercise in literature and parsing.. 

AESTHETICS. 



Huntington's Manual of the Fine Arts • •*! 75 

A view of the rise and progress of Art in different countries, a brief 
account of the most eminent masters of Art, and an analysis of the prin- 
eiples of Art, It is complete in itself, or may precede to advantage tha 
critical work of Lord Kames. 

Boyd's Kames' Elements of Criticism . •*! 75 

The best edition of this standard work ; without the study of which 
none may be considered proficient in the science of the Perceptions. No 
other study can be pursued with so marked an effect upon the taste and 
refinement of the pupil. 

POLITICAL ECONOMY. 



Champlin's Lessons on Political Economy i 25 

An improvement on previous treatises, being shorter, yet containing 
every thing essential, with a view of recent questions in fioaace, ofcc, 
which is not els(^wbere found.. 

36 



The JVational Series of Sla?idard Sc?iool-^ooks. 

CLEVELAND'S COMPENDIUMS. 



TEBTI3SJ:01sri.A.IuS- 

From the New Englander. 
This is the very "best book of the kind we have ever examined. 

From George B. Emerson, Esq., Boston. 
The Biographical Sketches are just and discriminating; the selections are admir- 
able, and I have adopted the work as a text-book for my first class. 

From Pbof. Moses Coit Tyler, of the Michigan University. 
I have given your book a thorough examination, and am greatly delighted with 
ffc ; and shall have great pleasure in directing the attention of my classes to a Avorlc 
which affords so admirable a bird's-eye view of recent "English Literature." 
From the Saturday Beview. 
It acquaints the reader with the characteristic method, tone, and quality of all the 
chief notabilities of the period, and will give the careful student a better idea of the 
recent history of English Literature than nine educated Englishmen in ten possess. 
From the Methodist Quarterly Bevieto^ New YorJc. 
This work is a transcript of the best American mind ; a vehicle of the noblest 
American spirit. No parent who would introduce his child to a knowledge of our 
country's literature, and at the same time indoctrinate his heart in the purest prin- 
ciples, need fear to put this manual in the youthful hand. 

From Eev. C. Peirce, Principal^ West Newton., Mass. 
I do not believe the work is to be found from which, within the same limits, so 
much interesting and valuable information in regard to English writers and English 
literature of every age, can be obtained ; and it deserves to find a place in all our 
high schools and academies, as well as in every private library. 
From the Independent. 
The work of selection and compilation — requiring a perfect familiarity with the 
whole range of English literature, a judgment clear and impartial, a-taste at once 
delicate and severe, and a most sensitive regard to purity of thought or feeling— has 
been better accomplished in this than in any kindred volume with which we are 
acquainted. 

From the Christian Examiner. 
To form such a Compendium, good taste, fine scholarship, familiar acquaintance 
with English literature, unwearied industry, tact acquired by practice, an interest 
in the culture of the young, a regard for truth, purity, philanthropy, religion, as the 
highest attainment and the highest beauty,— aU these were needed, and they are 
united in Mr. Cleveland. 

CHAMPLIN'S POLITICAL ECONOMY. 



Frmn J. L. Bothwell, Prin. Public School No. Ih. Albany, N. Y. 

T have examined Champlin's Political Economy with much pleasure, and shall be 
pleased to put it into the hands of my pupils. In quantity and quality I think it 
superior to anything that I have examined. 

From Pres. N. E. Cobleigh, East Tennessee Wesleyan University. 

An examination of Champlin's Political Economy has satisfied me that it is the 
book I want. For brevity and compactness, division of the subject, and clear state- 
ment, and for appropriateness of treatment, I consider it a better text-book than 
any other in the market. 

From the Evening Mail, New YorJc. 

A new interest has been imparted to the science of political economy since we 
have been necessitated to raise such vast sums of money for the support of the gov- 
ernment. The time, therefore, is favorable for the introduction of works like the 
above. This little volume of two hundred pages js intended for beginners, for the 
common school and academy. It is intended as a basis upon which to rear a more 
elaborate superstructure. There is nothing in the principles of political economy 
above the comprehension of average scholars, when they are ( learly set forth. This 
seems to have been done by President Champlin in an easy and graceful ms^-nner. 

37 



The JVaHo7ial Series of Slandar d School- ^BooJis, 

ELOCUTION. 



Taverner Graham's Reasonable Elocution, H 25 

Based upon the belief that true Elocution is the right interpreta- .- 
tion of Thought, and euiding the student to an intelligent appre- 
ciation, instead of a merely mechanical knowledge, of its rules. 

Zachos' Analytic Elocution i 50 

A.11 deparlments of elocution — such as the analysis of the voice and the 

sentence, phonology, rhythm, expression, gesture, &c are here arranged 

for instruction in classes, illustrated by copious examples. 



Sherwood's Self Culture l 00 

Self-culture in reading, speaking, and conversation— a very valuable 
treatise to those who would perfect themselves in these accomplishments. 

SPEAKERS. 



Northend's Little Orator, *60— Child's Speaker*60 

Two little works of the same grade but different selections, containing 
simple and attractive pieces for children under twelve years of age. 

Northend's Young Declaimer ...... *75 

Northend's National Orator *i 25 

Two volumes of Prose, Poetry, and Dialogue, adapted to inter- 
mediate and grammar classes respectively. 

Northend's Entertaining Dialogues . . . .*l 25 

Extracts eminently adapted to cultivate the dramatic faculties, as well 
as entertain an audience. 

Swett's Common School Speaker . . . .*l 25 

Selections from recent literature. 

Raymond's Patriotic Speaker *2 00 

A saperD comnllation of modern eloquence and poetry, with original 
dramatic exercises. Nearly every eminent living orator is represented, 
without distinction of place or party. 

COMPOSITION, &c. 

Brookfield's First Book In Composition • 60 

Making the cultivation of this important art feasible for the smallest 
child. By a new method, to induce and stimulate thought. 

Boyd's Composition and Rhetoric ... 1 50 

1 his work furnishes all the aid that is needful or can bp desired in 
the various departments and styles of composition, both inprcse and versa. 

Day's Art of Rhetoric i 26 

Noted for exactness of definition, clear limitation, and philosophical 
development of subject ; the large share of attention given to Inrenthm, 
«0 a branch of RHetoric, and the unequalled analysis of style 

38 



The JVationat Series of Sta7idard School- jf^ooks, 

MENTAL PHILOSOPHY. 

Mahan's Intellectual Philosophy ^1*^5 

The subject exhaustively considered. The author has evinced learning, candor, 
and independent thinking. 

Mahan's Science of Logic ......... 2 oo 

A profound analysis of the laws of thought. The system possesses the merit of 
being intelligible and self' consistent. In addition to the author's carefully elabo- 
rated views, it embraces results attained by the ablest minds of Great Britain, Ger- 
many, and France, in this department. 

Boyd's Elements of Logic 1 ^^ 

A systematic and philosophic condensation of the subject, fortified with additions 
from Watts, Abercrombie, Whately, «S;c. 

Watts on the Mind 50 

The Improvement of the Mind, by Isaac Watts, is designed as a guide for the 
attainment of useful knowledge. As a text-book it is unparalleled ; and the disci- 
pline it affords cannot be too highly esteemed by the educator, 

MORALS. 

^ « ♦ » »' 

Peabody's Moral Philosophy ....... 1 25 

A sho.t course ; by the Professor of Christian Morals, Harvard University— for 
the Freshman Class and for High Schools. 

Alden's Text-Book of Ethics 60 

For young pupils. To aid in systematizing the ethical teachings of the Bible, 
and point out the coincidences between the instructions of the sacred volume and 
the sound conclusions of reason. 

Willard's Morals for the Young ^^ 

Lessons in conversational style to inculcate the elements of moral philosophy. 
The study is made attractive by narratives and engravings. 

GOVERNMENT. 

^* » ■» • 

Howe's Young Citizen's Catechism .... 75 

Explaining the duties of District, Town, City, County, State, and United States 
Officers, with rules for parliamentary and commercial business — that which every 
future " sovereign" ought to know, and so few are taught. 

Young's Lessons in Civil Government . . 1 25 

A comprehensive view of Government, and abstract of the laws showing the 
rights, duties, and responsibilities of citizens. 

Mansfield's Political Manual 1 25 

This is a complete view of the theory and practice of the General and State Gov- 
ernments of the United States, designed as a text-book. The author is an esteemed 
and able professor of constitutional law, widely known for his sagacious utterances 
in matters of statecraft through the public press. Recent events teach with em- 
phasis the vital necessity that the rising generation should comprehend the noble 
polity of the American government, that they may act intelligently when endoTred 
With a voice in it. 

39 



The JVationaZ Series of Standard Schoot-^ooks, 

MODERN LANGUAGE. 



"O- 



French and English Primer, .... . 4 lo 

GBrman and English Primer, ....... lo 

Spanish and English Primer, 10 

The names of common objects properly illustrated and arranged in easy 

lessons. 

Ledru's French Fables, • • • ^^ 

Ledru's French Grammar, . • • • • . . l oo 
Ledru's French Reader, . . . ^ l oo 

The author's long experience has enabled him to present the most thor- 
oughly practical text-books extant, in this branch. The system of pro- 
nunciation (by phonetic illustration) is original with this author, and Tfill 
commend itself to all American teachers, as it enables their pupils to se- 
cure an absolutely correct pronunciation without the assistance of a nativa 
master. This feature is peculiarly valuable also to " self-taught" students. 
The directions for ascertaining the gender of French nouns — ^also a great 
Etumbling-block — are peculiar to this work, and will be found remarkably 
competent to the end proposed. The criticism of teachers and the test of 
tke school-room is invited to this excellent series, with coafideace. 

Worman's French Echo, i 25 

To teach conversational French by actual practice, on an entirely new- 
plan, which recognizes the importance of the student learning to think in 
the language which be speaks. It furnishes an extensive vocabulary of 
words and expressions ia common use, and suffices to free the learner 
from the embarrassments which the peculiarities of his own tongue are 
likely to be to him, and to make him thoroughly familiar with the use 
of proper idioms. 

Worman's German Echo, i 2r» 

On the same plan. See Worman's German Series, paga 42. 

Pujol's Complete French Class-Book, ... 2 25 

Offers, in one volume, methodically arranged, a complete French course 
— usually embraced in series of from five to twelve books, including tha 
bulky and expensive Lexicon. Here are Grammar, Conversation, and 
choice Literature — selected from the best French authors. Each brancli 
is tlioroughly handled ; and the student, having diligently completed tha 
course as prescribed, may consider himself, without further application, 
au/ait in the most polite and elegant language of modern times. 

fflaurice-Poitevin's Grammaire Francaise, • l 00 

American schools are at last supplied with an American edition of this 
famous text-book. Many of our best institutions have for years been pro- 
curing it from abroad rather than forego the advantages it offers. The 
policy of putting students who have acquired some proficiency from the 
ordinary text-books, into a Grammar written in the vernacular, can not 
te too highly commended. It affords an opportunity for finish and revieir 
at once ; while embodying abundant practice of its own rules. 

Joynes' French Pronunciation, so 

Willard's Historia de los Estados Unidos, • 2 00 

The History of the United States, translated by Professors Tolon and 
Dk T0KNO8, will be found a vuluable, iustruotive^ a-d catcrtainiag read- 
Ing-book for Spanijh clossea. ^ ,. 



The JSTationat Series of Standard Schoot-Sooks, 

Pujol's Complete French Olass-Book. 

TESTIMOTTIALS. 

From rKOF. Elias Peissnee, Union College. 
I take great pleasure in recommending Pujol and Van Norman's Frencli Claes- 
Book, as tbere is no French grammar or class-book which can be compared with 
it ia completeness, system, clearness, and general utihty. 

From Ebwaed North, President of Hamilton College. 
I have carefully examined Pujol and Van Norman's French Class-Book, and am 
eatisfled of Its superiority, for college purposes, over any other heretofore u^ed 
We shall p'jfc fail to use it with our next class in French. 

Fmr A. CtrETis, Pres't of Cincinnati Literary and Scientific Institute. 
I am confident that it may he made an instrument in conveying to the student, 
hi from six months to a year, the art of speaking and writing the French with 
almost native- fluency and propriety. 

From HmAM Oecutt, A. M., Pnn. Glenwood and Tilden Ladies' Seminaries. 

I have used Pujol's French Grammar in my two seminaries, exclusively, for 
laore than a year, and have no hesitation in saj^ing that I regard it the best text- 
book in this department extant. And my opinion is confirmed by the testimony 
of Prof. F. De Launay and Mademoiselle Marindin. They assure me that the 
book is eminently accurate and practical, as tested in the school-room. 

From Prop. Theo. F. De Fumat, Hebrew Educational Listitute, Memphis, Tenn. 
M. Pujol's French Grammar is one of the best and most practical works. The 
French language is chosen and elegant in style — modem and easy. It is far su- 
perior to the other French class-books in this country. The selection of the con- 
versational part is very good, and will interest pupils ; and being all completed in 
only one volume, it is especially desirable to have it introduced in our schools. 

From Prof. James H. Worman, Bordentown Female College, N. J. 
The work is upon the same plan as the text-books for the study of French and 
English published in Berlin, for the study of those v/ho have not the aid of a 
teacher, and these books are considered, by the first authorities, the best books. 
In most of our institutions, Americans teach the modern languages, and hereto- 
fore the trouble has been to give them a text-book that would dispose of the 
difficulties of the French pronunciation. This difiiculty is successfully removed 
by P. and Van N., and I have every reason to believe it will soon make its way 
into most of our best schools. 

From Prof. Charles S. Dod, Ann Smith Academy, Lexington, Va. 
I cannot do better than to recommend " Pujol and Van Norman." For compre- 
hensive and systematic arrangement, progressive and thorough development of 
all grammatical principles and idioms, with a due admixture of theoretical knowl- 
tdge an4 practical exercise, I regard it as superior to any (other) book of the kind. 

From A. A. Foester, Prin. Pinehurst School, Toronto, C. W. 
I have great satisfaction in bearing testimony to M, Pujol's System of French 
Instruction, as given in his complete class-book. For clearness and comprehen- 
siveness, adapted for all classes cf pupils, I have found it superior to any other 
work of the kind, and have now used it forsome years in my establishment -with 



From Prof. Otto Feddee, Maplewood Institute, Pittsfield, Mass. 
The conversational exercises will prove an immense saving of the hardest kind 
Ot labor to teachers. There is scarcely any thing more trying in the way of 
teaching language, than to rack your brain for short and easily intelligible bits 
of conversation, and to repeat them time and again with no better result than 
extorting at long intervals a doubting " oui," Or a hesitating " non, monsieur " 

^W For further testimony of a similnr character, see special circulars ajud 
current numbers of the Educational Bulletin. 

41 



The JVatlonal Series of Standard SchoolSooks, 

GERMAN. 



A COMPLETE COUESE IN THE GEEMAH. 

By JAMES H. WORMAN, A. M. 

Worman's Elementary German Grammar .$l so 
Worman's Complete German Grammar . 2 oo 

\f These volumes are designed for intermediate and advanced classes respectively.. 

Though following the same general method with "Otto" (that of 'Gaspey'>' 
©ur author differs essentially in its application. He is more practical, more eyd' 
tematic, more accurate, and besides introduces a number of invaluable featured 
which have never before been combined in a German grammar. 

Among other things, it may be claimed for Prof. Worman that he has been 
the first to Introduce in an American text-book for learning German, a system 
of analogy and comparison with other languages. Our best teachers are also 
enthusiastic about his methods of inculcating the art of speaking, of understanding 
the spoken langnage, of correct pronunciation ; the sensible and convenient origi' 
nal classification of nouns (in four declensions), and of irregular verbs, also de- 
serves much praise. We also note the use of heavy type to indicate etymological 
changes in the paradigms., »nd, in the exercises, the parts which specially illustrate 
preceding rules. 

Worman's Elementary German Reader . . i 25 
Worman's Collegiate German Reader . . . 2 oo 

The finest and most judicious compilation of classical and standard German 
Literature. These works embrace, progressively arranged, selections from the 
masterpieces of Goethe, Schiller, Korner, Seumte, Uhland, Freiligrath, Heine, 
Schlegel, Holty, Lenau, Wieland, Herder, Lessing, Kant, Fichte, Schelling, Win- 
kelmann, Humboldt, Eanke, Raumer, Menzel, Gervinus, &c., and contains com- 
plete Goethe's "IpLigenie," Schiller's " Jungfrau;" also, for instruction in mod- 
em conversational German, Benedix's " Eigensinn." 

There are besides, Biographical Sketches of each author contributing, Notes, 
explanatory and philological (after the text). Grammatical Eeferences to all lead- 
ing grammars, as well as the editor's own, and an adequate Vocabulary. 

Worman's German Echo l 25 

Consists of exercises in colloquial style entirely in the German, with an ade- 
quate vocabulary, not only of words but of idioms. The object of the system de- 
veloped in this work (and its companion volume in the French) is to break up the 
laborious and tedious habit of translating the thoughts, which is the student's 
most eff'ectual bar to fluent conversation, and to lead him to think in the language 
in which he speaks. As the exercises illustrate scenes in actual life, a considera- 
ble knowledge of the manners and customs of the German people is also acquired 
from the use of this manual. 

Worman's German Copy-Books, § Numbers, each 15 

On the same plan as the most approved systems for Engliah penmanship, with 
progressive copies. 

42 



The JVatlonal Seizes of St andard School-'Books^ 

Worman's German Grammars. 

TBSTIMONIAIiS. 

From Frof. R. W. Jones, Petersburg Female College, Ya. 
From -vrhat I have seen of the -work it is abnost certain / shall introdttc« it ink» 
this institution. 

From Prof. G. Campbeli^, University of Minnesota. 
A valuable addition to our school-hooks, and ■will find many friends, and do great 
good. 

From Prof. O. H P. Cokpebw, Mavff Military Inst., Md. 
I am hetter pleased with them than any I have ever taught. I have already ordered 
through our booksellers. 

From Prof, E. S. Kendall, Yernon Academy, Conn. 
I at once put the Elementary Grammar into the hands of a class of beginners, and 
have used it with great satisfaction. 

From Prof. D. E. Holmes, Berlin Academy, Wis. 
Worman's German works are superior. I shall use them hereafter in my German 
classes. 

From Prof. Magnus Bitchholtz, IJiram, College, Ohio. 
I have examined the Complete Grammar, and find it excellent. You may rely that 
it will be used here. 

From Prin. Tnos. W. Tobet, Paducah Female Seminary, Ky. 
The Complete German Grammar is worthy of an extensive circulation. It is ad' 
mirably adapted to the class-room. I shall use it 

From Prof. Alex. Eosenspitz, Houston Academy, Texas. 
Bearer will take and pay for 3 dozen copies. Mr. WormaQ deserves the approbatioq 
and esteem of the teacher and the thanks of the student. 

From Prof. Q. Malmkne, Augusta Seminary, Maine. 
The Complete Grammar cannot fail to give great • satisfaction by the simplicity 
of its arrangement, and by its completeness. 

From Prin. Oval Pikket, Cliristian University, Mo. 
Just such a series as is positively necessary. I do hope the author will succeed aa 
well in the French, &c., as he has in thrf German. 

From Prof. S. D. IIillman, Dickinson College, Pa, 
The class have lately commenced, and my examination thus far warrants me in say- 
ing that I regard it as the best grammar for instruction in the German. 

From Prin. Silas Livermoke, Bloomfield Seminary, Mo. 
I have found a classically and scientifically educated Prussian gentleman whom I 

S'opose to make German instructor. I have shown him both your German grammars. 
e has expressed his approbation of them generally. 

From Prof Z. Test, Rowland School for Young Ladies, JV. Y. 
I shall introduce the books. From a cursory examination I have no hesitation in 
pronouncing the Complete Grammar a decided improvement on the text-books at 
present in use in this country. 

From Prof. Lewis Kistlee, Northwestern University, HI. 
Having looked through the Complete Grammar with some care I must say that you 
have produced a good book ; you may be awarded with this gratification — that your 
grammar promotes the facility of learning the German language, and of becoming 
acquainted with its rich literature. 

From Pres. J. P. Eoirs, Stockwell Collegiate Innt., Ind. 
I supplied a class with the Elementary Grammar, and it gives complete satinfac- 
lion. The conversational and reading exercises are well calculated to illustrate the 
principles, and lead the student on an easy yet thoreugh course, I thiak the Com 
Plata Grammar equally attractive. 

\ 43 



JVatlonal Series of Standard School-Soo^s, 

THE CLASSICS. 



• LATIN. 
Silber's Latin Course, . $i 25 

The book contains an Epitome of Latin Grammar, followed by Heading Exercises, 
with explanatory Notes and copious References to the leading Latin Grammars, and 
also to the Epitome which precedes the work. Then follow a Latin-English Vocabu- 
lary and Exercises in Latin Prose Composition, being thus complete in itself, and a 
very suitable work to put in the hands of one about to study the language. 

Searing's Virgil's ^neid, ....../ 2 25 

It contains only the first six books of the -.Eneid. 2. A very carefully constructed 
Dictionary. 3. Sufficiently copious Notes. 4. Grammatical references to four lead- 
ing Grammars. 5.. Numerous Illustrations of the highest order, 6. A supei'b Map 
of the Mediterranean and adjacent countries. 7. Dr. S. H. Taylor's "Questions on 
the -^neid." 8. A Metrical Index, and an Essay on the Poetical Style. 9. A photo- 
graphic foe simile of an early Latin M.S. 10. The text according to Jabn, but para- 
graphed according to Ladewig. 11. Superior mechanical lexacution. 

Blair's Latin Pronunciation, i ^^ 

An inquiry into the proper eounds of the Language during the Classical Period. 
By Prof. Blair, of Hampden Sidney College, Va. 

Andrews & Stoddard's Latin Grammar, *i so 

Andrews' Questions on the Grammar, . *o 15 

Andrews' Latin Exercises, *i 25 

Andrews' Viri Romae, *i 25 

Andrews' Sallust's Jugurthine War, &g. *i so 

Andrews' Eclogues & Georgics of Virgil, *i so 

Andrews' Caesar's Commentaries, . . . . *i 50 

Andrews' Ovid 's Metamorphose s, . . . *i 25 

GREEK. 
Crosby's Greek Grammar, ....... 2 oo 

Crosby's Xeriophon's Anabasis, i 25 

Searing's Homer's Iliad, • • • • • • • • 

• MYTHOLOGY. 
Dwight's Grecian and Roman Mythology. 

. School edition, $1 25; University edition, *3 00 

A knowledge of the fables of antiqaity, thus presented in a systematic form, is as 
indispensable to the student of general literature as to him who would peruse intelli- 
gently the classical authors. The mythological allusions so frequent in literaturo are 
jreadily understood with such a Key us this. 

44 



The JVatio9iat Series of Standard School-Sooks, 

SEARING'S VIRGIL. 



SPECIMEN FKAGMENTS OF LETTERS. 

♦'I adopt it gladly."— Pkin. V. Dabnet, Loudoun School, Va. 

"Hike Searing's Virgil."— Pbop. Bkistol, Mpon College, Wis. 

"Meets my desires very thoroughly."— Prof. Clabk, Berea College, Ohio. 

" Superior to any other edition of Virgil."— Pres. Hall, Macon College, Mo. 

"Shall adopt it at once."— Pbin. B. P. Baker, Searcy Female Institute, Ark. 

"Your Virgil is a beauty.^''— Pbov. W. H, Db Motte, Illinois Female College. 

"After uae, I regard it the best."— Prin. G. H. Barton, Borne Academy, N. T. 

"We like it better every day."— Prin. E. K. Bcehrle, Allentown Academy, Pa. 

" I am delighted with your Virgil."- PRm. W. T. Leonard, Pierce Academy, Mass. 

"Stands well the test of class-room." — Prin. F. A. Chase, Lyons Col. Inst., Iowa. 

"I do not see how it can be improved."— Prin. N. F. D. Browne, Charl. Hall, Md. 

" The most complete that I have seen."— Prin. A Brown, Columbus High School^ 
Ohio. 

" Our Professor of Language very highly approves."— Sxtpt. J. G. James, Texas 
Military Institute. 

"It responds to a want long felt by teachers. It is beautiful and complete." — 
Prop. Brooks, University of Minnesota. 

"The ideal edition. We want a few more classics of the same sort."- Prin. C. F. 
P. Bancroft, Lookout Mountain Institute, Tetin. 

"I certainly have never seen an edition so complete with important requisites for 
a student, nor with such fine text and general mechanical execution." — Pres. J. K. 
Park, University of Beseret, Utah. 

" It is .charming both in its design and execution. And^ on the whole, I think it 
»8 the best thing of the kind that I have seen."— Prop. J. De F. Richards, Pres. 
pro tern, of University of Alabama. 

" In beauty of execution, in judicious notes, and in an adequate vocabulary, it 
merits aU praise. I shall recommend its introduction."— Pres. J. K Patterson, 
Kentucky Agricultural and MechamcaZ College. 

" Containing a good vocabulary and judicious notes, it w.ill enable the industrious 
student to acquire an accurate knowledge of the most interesting part of Virgil's 
works."- Prop. J. T. Dunklin, East Alabama College, 

"It wants no element of completeness. It is by far the best classical text-book 
with which I am acauainted. The notes are just right. They help the student 
when he most needs help."— Prin. C. A. Bunker, Caledonia Grammar School, Vt. 

"I have examined Searing's Virgil with interest, and find that it more nearly 
meets the wants of students than that of any gther edition with which I am ac- 
quainted. I am able to introduce it to some extent at once." — Prin. J. Easter, 
Mlast Genesee Conference Seminary. 

" I have been wishing to get a sight of it, and it ex<seeds my expectations. It is 
a beautiful book in every respect, and bears evidence of careftil and critical study. 
The engravings add instruction as well as interest to the work. I shall recommend 
it to my classes." — Prin. Chas. H. Chandler, Glenwood Ladies'' Seminary. 

"A. S. Barnes & Co. have published an edition of the first six books of Virgil's 
.^neid, which is supei'ior to its predecessors in several respects. The publishers 
have done a good service to the cause of classical education, and the book deserves 
a large circulation." — Prop. George W. CoLLoitD, Brooklyn Polytechnic, iV". Y. 

"My attention was called to Searing's Virgil by the fact of its containing a voca- 
bulary which would obviate the necessity of procuring a lexicon. But use in th6 
•lass-room has impressed me most favorably with the accuracy and just proportion 
of its notes, and the general excellence of its grammatical suggestions. The gen- 
eral character of the book in its paper, its typography, and its engravings is highly 
commendable, and the fac-simile manuscript is a valuable feature. I take gTcat 
pleasure in commending the book to all who do not wish a complete edition of 
Virgil. It suits our short schf' -i— -•— i..- ..< -rr -r ^ :.^_-j-.. 

qfFrincetm Bigh School^ lU. 

45 



Virgil. It suits our short school courses admirably."— Hbnrt L. Boltwood, Master 
"Princetm —'-'' — 



The J\rational Series of Siandm'd Sc/ioolSoo/bs, 



RECORDS. 

«4^. 

Cole's Self-Reporting Ciass-Book, . . . . *lo 50 

For saving the Teacher's labor in averaging. At each opening are a foil set of 
Tables showing any scholar's standing at a ^nee and entirely (3)viating tke neces- 
sity of computation. 

Tracy's School-Record, *0 75. Pocket edition, *0 G5 

For keeping a simple but exact record of Attendance, Deportm^t, and SchoMr- 
ehip. The larger edition contains also a Calendar, an extensive Est of Topics for 
Compositions aod CoUoctud^, Themes for Short Leetwres, Sfeggestions to Yoraig 

jLCRCXlCrS) CtiC* 

Brooks' Teacher's Register, .-..••. *i 00 

Presents at one view a record of Attendance, Recitatiojis,. and Departflaeiat far tlae 
"Whole term. 

Carter's Record and Roll-Book, * - - - ,n.60 

This is the most complete and convenient Record offered to thepnbBc, Besides 
the usual spaces foi' General Scholarship, Deportment, Attendarace, etc-^ for eacb 
name and day, there is a space in red lines enelosing six miaor spaces in blae fiay 
recording Recitations* 

National School Diary, . , , , . Per do^en, *i 00 

A little book of blank forms for weekJy report of the standing of »cb scholar, 
from teacher to parent. A great convenience. 



REWARDS, 



National School Currency, ..... Per set,*ii 50 

A little box containing certificates^ in the form of Money. The most entertaining 
and stimuteting system of school rewards. The scho^r is paid for his merits ana 
fined for his shortcomings. Of course the mast faithful' are the most successful in 
business. In this way the use and valtie of money and the method of keeping 
accounts are also taught. One box of Currency wiH supply a school of fifty pupils. 



TACTICS 



The Boy Soldier, 75 

!,.wit 
n fr© 



Complete Infantrjc Tactics for Schools,, with illustrations, for the use of those who 
would introduce this pleasing relaxation from the confining duties ©f the desk. 



The J^ati onat Series of Standard SchoolSooks. 

C HA R T S. 

^ ■ — - 

McKenzie's Elocutionary Chart, $3 50 

Baade's Reading Case, *io oo 

This remarkable piece of scliool-room furniture is a receptacle containing a num- 
ber of primary cards. By an arrangement of slides on the front, one sentence at a 
time is shown to the class. Twenty-eight thousand transpositions may be made, 
affording a variety of progressive exercises which no other piece of apparatus 
offers. One of its best features is, that it is so exceedingly simple as not to get out 
of order, while it may be operated with one finger. 

Marcy's Eureka Tablet, *i so 

A new system for the Alphabet, by which it may be taught without fail in nme 
lessons. 

Scofield's School Tablets, *8 oo 

On Five Cards, exhibiting Ten Surfaces. These Tablets teach Orthography, 
Eeading, Object-Lessons, Color, Form, etc. 

Watson's Phonetic Tablets, ....... *8 oo 

Four Cards, and Eight Surfaces ; teaching Pronunciation and Elocution phonetic- 
auy — for class exercises. 

Page's Normal Chart, . *3 75 

The whole science of Elementary Sounds tabulated. By the author of Page's 
Theory and Practice ,of Teaching. 

Clark's Grammatical Chart, *3 'J'5 

Exhibits the whole Science of Language in one comprehensive diagram. 

Davies' Mathematical Chart, *'^5 

Mathematics made simple to the eye. 

Monteith's Reference Maps (SchoQi Series), . .*20 oo 

Eight Numbers. Mounted on Rollers. Names all laid down in small type, so 
that to the pupil at a short distance they are Outline Maps, while they serve as 
their own key to t^Q iQSiChe,T. 

Willard's Chronographers, ..... Each, *2 oo 

Historical. Four Numbers. Ancient Chronographer ; English Chronographer ; 
American Chronographer; Temple of Time (general). Dates and Events repre- 
Bented to the eye. 

APPARATUS. 

Harrington's Geometrical Blocks, • • • •*^io oo 

These patented blocks are hinged^ so that each form can be dissected, 

Harrington's Fractional Blocks, *8 oo 

Steele's Chemical Apparatus, • . *20 oo 

Steele's Philosophical Apparatus, (see p.28)*i25 oo 
Steele's Geological Cabinet, (see p.28 ) . . . *40 oo 
Wood's Botanical Apparatus, (see p.30 ) . . *8 oo 
Bock's Physiological Apparatus^ .... 175 oo 



The JVaHonat Series of Standard Schoot-^ooks, 

MUSIC. 



-♦-•- 



Jepson's Music Readers. 3 vols. . . . Each, 75 eta 

These are not Looks from which chUdren simply learn songs, par- 
rot-like, but teach the subject progressively— the scholar learning to 
read music by methods similar to those employed in teaching him to 
read printed language. Any teacher, however ignorant of music, pro- 
vided he can, upon trial, simply sound the scale, may teach it without 
assistance, and will end by bemg a good singer himself. The " Ele- 
mentary Music Header," or first volume, heretofore issued by another 
publisher, has attained results in the State of Coimecticut, where only 
It has been known, entirely unprecedented in the history of teaching 
music. The two companion volumes carry the same method into the 
higher grades. 

Nash & Bristow's Cantara. No.i,$i.i5; No.2,$i.40 

The first volume is a complete musical text-book for schools of 
every grade. No. 2 is a choice selection of Solos and Part Songs. 
The authors are Directors of Music in the public schools of New York 
City, in which these books are the standard of instruction. 

Curtis' Little Singer, $o 60 

Curtis' School Vocalist, l oo 

Kingsley's School-Room Choir, . ..... 60 

Kingsley's Young Ladies' Harp, i oo 

Hager's Echo, '^5 

Perkins' Sabbath Carols (for sunaay-schoois), . . 35 

Phillips' Singing Annual do. do. . . 35 



DEVOTION. 



Brooks' School Manual of Devotion, • • . «o 75 

This volume contains daily devotional exercises, consisting of a 
h3rmn, selections of Scripture for alternate reading by teacher and 
pupils, and a prayer. Its value for opening and closing school is 
apparent. 

Brooks' School Harmonist, *'^5 

Contaii^p appropriat( 
tion" described above. 



ContaiAp appropriate tunes for each hymn in the " Manual of Devo- 
" Jd r 



48 



The JVationat Teachers' library. 



TEACHERS'^ LIBRARY. 



Object Lessons— Welch .*$i oc 

This is a complete exposition of the popular modem eystem of 
" object-teaching," for teachers of primary classes. 

Theory and Practice of Teaching— Page . . *i 50 

This volume has, without doubt, been read by two hundred thousand 
teachers, and its popularity remains undiminished— large editions 
being exhausted yearly. It was the pioneer, as it is now the patri- 
arch of professional works for teachers. 

The Graded School-Wells *i 25 

The proper way to organize graded schools is here illustrated. The 
author has availed hiaiself of the best elements of the several systems 
prevalent in Boston, New York, Philadelphia, Cincinnati, St. Louie, 
and other cities. 

The Normal— Holbrook *i 50 

Carries a working school on its visit to teachers, showing the most 
approved methods of teaching all the common branches, including the 
technicalities, explanations, demonstrations, and definitions intro- 
ductory and peculiar to each branch. 

The Teachers' Institute— Fowle *i 25 

This is a volume of suggestions inspired by the author's experience 
at institutes, in the instruction of young teachers. A thousand points 
of interest to this class are most satisfactorily dealt with. 

Schools and Schoolmasters— Dickens • . . *i 25 

Appropriate selections from the writings of the great noveliat. 

The Metric System— Davles *i 50 

Considered with reference to its general introduction, and embrac- 
ing the views of John Quincy Adams and Sir John Herschel. 

The Student."— The Educator— Phelps . each,*i 50 
The Discipline of Life-Phelps *l 75 

The authoress of these works is one of the most distinguished 
writers on education ; and they cannot fail to prove a valuable addi- 
tion to the School and Teachers' Libraries, being in a high degree 
both interesting and instructive. 

k Scientific Basis of Education— Hecker . . *2 50 

Adaptation of study and classification by temperamenta. 
49 



The JVationai Teachers^ library. 



American Education— Mansfield .... .$i 50 

A treatise ©n the principles and elements of edacation, as practiced in 
this countrj, Trith ideas towards distinctive republican and Cbristian eda« 
cation. 

American Institutions— De Tocqueville . .*i so 

A raluable index to the genius of our Government. 

Universal Education— Mayhew *1 75 

The subject is approached with the clear, keen perception of one who 
has observed its necessity, and realized its feasibility and expediency 
alike. The redeeming and elevating power of improved common schools 
constitutes the inspiration of the volume. 

Higher Christian Education— Dwight . . •*! 50 

A treatise on the principles and spirit, the modes, directions, iand ra- 
Bults of all true teaching ; showing that right education should appeal to 
every element of enthusiasm in the teacher's nature. 

Oral Training Lessons— Barnard . . . . *i oo 

The object of this very useful work is to famish material for instruc- 
tors to impart orally to their classes, in branches not usually taught in 
common schools, embracing, all departments of Natural Science and 
much general knowledge. 

Lectures on Natural History— Chadbourne * 75 

Afifording many themes for oral Instruction in this interesting science — 
especially in schools where it is not pursued as a class exercise. 

Outlines of Mathematical Science— Davies *i oo 

A manual suggesting the best methods of presenting mathematical in- 
struction on the part of the teacher, with that comprehensive view of the 
whole which is necessary to the intelligent treatment of a part, in science. 

Nature & Utility of Mathematics— Davies . .*1 50 

An elaborate and lucid exposition of the principles which lie at the 
foundation of pure mathematics, with a highly ingenious application of 
their results to the development of the essential idea of the different 
branches of the science. 

Mathematical Dictionary— Davies & Peck .'^'S oo 

This cyclopaedia of mathematical science defines with completeness, 
precision, and accuracy, every technical term, thus constituting a popular 
treatise on each branch, and a general view of the whole subject. 

School Architecture— Barnard ..... .*2 25 

Attention is here called to the vital connection between a good school- 
house and a good Bchool, with plans and specifications for secariug Um 
former in the moat economical and satisfa«tory manner. 

50 



The JVational Teachers' J^ibrary, 



Liberal Education of Women— Orion • . ""H so 

Treats of "the demand an^'the metliod;" being a compilation of the best and 
most advanced thought on this subject, by the leading writers and educators ia 
England and America. Edited by a Professor in Vassar College. 

Education Abroad— Northrop *i so 

A thorough discussion of the advantages and disadvantages of- sending American 
children to Europe to be educated ; also, Papers on Legal Prevention of Illiteracy, 
Study and Health, Labor as an Educator, and other kindred subjects. By the Hon. 
Secretary of Education for Connecticut. 

The Teacher and the Parent— Northend • . *i so 

' A treatise upon common-school education, designed to lead teachers to view their 
ealling in its true light, and to stimulate them to fidelity. 

The Teachers' Assistant— Northend .... *i so 

A natural continuation of the author's previous work, more directly calculated for 
daily use in the administration of school discipline and instruction. 

School Government— Jewell *1 so 

Full of advanced ideas on the subject which its title indicates. The criticisms 
upon current theories of punishment and schemes of administration have excited 
general attention and comment. 

Grammatical Diagrams— Jewell *i oo 

The diagram system of teaching grammar explained, defended, and improved. 
The curious in literature, the searcher for truth, those interested in new inventions, 
as well as the disciples of Prof. Clark, who would see their favorite theory fairly 
treated, all want this book. There are many who would like to be made familiar 
with this system before risking its use in a class. The opportunity is here afforded. 

The Complete Examiner— Stone *i ^s 

Consists of a series of questions on every English branch of school and academic 
instruction, with reference to a given page or article of leading text-books where 
the answer may be found in full. Prepared to aid teachers in securing certificates, 
pupils in preparing for promotion, and teachers in selecting review questions. 

School Amusements— Root *i 50 

To assist teachers in making the school interesting, with hints upon the manage- 
ment of the school-room. Rules for military and gymnastic exercises are included. 
Illustrated by diagrams. 

Institute Lectures— Bates . *i so 

These lectures, originally delivered before institutes, are based upon various 
topics in the departments of mental and moral culture. The volume is calculated 
to prepare the will, awaken the inquiry, and stimulate the thought of the zealous 
teacher. 

Method of Teachers' Institutes— Bates • • • *^s 

Sets forth the best method of conducting institutes, with a detailed account of the 
object, organization, plan of instruction, and true theory of education on which 
such instruction should be based. 

^flistory and Progress of Education • • • . *i so 

The systems of education prevailing in all nations and ages, the gradual advance 
to the present time, and the bearing of the past upon the present in this regard, ar« 
worthy of the careful investigation of all concerned in education. 

• 51 



J\ratio7ial School Library, 



THE SCHOOL LIBRARY. 

The two elements of instruction and entertainment were never more happily com- 
bined than in this collection of Btandard hooks. Children and adults alike wiU here 
find ample food for the mind, of the sort that is easily digested, while not degener- 
ating to the level of modem romance. 

LIBRARY OF LITERATURE. 
Milton's Paradise Lost. Boyd's illustrated Ed., $1 60 

Young's Night Thoughts . . . . do. . . i 60 

Cowper's Task, Table Talk, &c. . do. . . i 60 

Thomson's Seasons do. . . i 60 

Pollok's Course of Time .... do. . . i 60 

These works, models of the best and purest literature, are beautiftilly Illustrated, 
and notes explain all doubtful meanings. 

Lord Bacon's Essays (Boyd's Edition) ... i 60 

Another grand English classic, affording the highest example of purity in lan- 
guage and style. 

The Iliad of Homer. Translated by Pope. . . 80 

Those who are unable to read this ^eatest of ancient writers in the original, 
Phould not fail to avail themselves of this metrical version. 

Compendium of Eng. Literature— Cleveland, 2 so 
English Literature of XlXth Century do. 2 50 
Compendium of American Literature do. 2 so 

Nearly one hundred and fifty thousand volumes of Prof. Clevei^and's inimitable 
compeudiums have been sold. Taken together they present a complete view of 
literature. To the man who can afford but a few books these wiU supply the place 
of an extensive library. From commendations of the very highest authorities the 
following extracts will give some idea of the enthusiasm with which the works are 
regarded by scholars : 

With the Bible and your volumes one might leave libraries without very painful 
regret. — The work cannot be found from which in the same limits so much iutere?t- 
iug and valuable information may be obtained. — Good taste, fine scholarship, 
familiar acquaintance with literature, unwearied industry, tact acquired by practice, 
an interest in the culture of the young, and regard for truth, purity, philanthropy 
and religion are united in Mr. Cleveland.— A judgment clear and impartial, a taste 
at once delicate and severe.— The biographies are just and discriminating.— An 
admirable bird's-eye view.— Acquaints the reader with the characteristic method, 
tone, and quality of each writer.— Succinct, carefully written, and wonderfully com- 
prehensive in detail, etc., etc. 

Milton's Poetical Works— Cleveland ... 2 50 

This is the very best edition of the great Poet. It includes a life of the author, 
notes, dissertations on each poem, a faultless text, and is the only edition of Miltou 
with a complete verbal Indes. 

52 



JVational School Zibrary, 



LIBRARY OF HISTORY. 
History of Europe— Alison ...... $2 so 

A reliable and standard work, which covers with clear, connected, 
and complete narrative, the eventful occurrences transpiring from 
A. D. 1789 to 1815, being mainly a history of the career of Napoleon 
Bonaparte. 

History of England— Berard i 75 

Combining a history of the social life of the English people with that 
of the civil and military transactions of the realm. 

History of Rome— Ricord i 6o 

Possesses all the charm ©f an attractive romance. The fables with 
T» hich this history abounds are introduced in sucli away as not to deceive 
thn inexperienced reader, while adding vastly to the interest of the work 
and affording a pleasing index to the genius of the Koman peoplts lUus* 
trated. 

The Republic of America— Willard . . . 2 25 
Universal History in Perspective— Willard 2 25 

From these two comparatively brief treatises the intelligent mind may 
obtain a comprehensive knowledge of the history of the world in both 
hemispheres. Mrs. Willard' s reputation ae an historian is wide as tha 
land. Illustrated. 

Ecclesiastical History— Marsh 2 oo 

A history of the Church in all ages, with a eomprehensive review of all 
forms of religion from the creation of the world. No otner source affords, 
in the same compass, the information here conveyed. 

History of the Ancient Hebrews— Mills . . l 75 

The record of " God's people" from the call of Abraham to the destruc- 
tion of Jerusalem ; gattiercd from sources sacred and profane. 

The Mexican War— Mansfield i so 

A history of its origin, and a detailed account of its victories ; with 
oflacial despatches, the treaty of peace, and valuable tables. Illustrated. 

Early History of Michigan— Sheldon ... 2 50 

A work of value and deep interest to the people of the West. Com- 
piled under the supervision of Hon. Lewis Cass. Portraits. 

History of Texas— Baker 1 35 

A pithy and interesting resume. Copiously illustrated. The State 
constitution and extracts from the speeches and writings of eminent 
Texans are appended. 

63 



JV'ational School Zibra7y* 



LIBRARY OP BIOGRAPHY. 
Life of Dr. Sam. Johnson— Boswell • • $2 25 

This work has been before the public for serenty years, with increasing 
approbation. Boswell is known as " the prince of biographers." 

Henry Clay's Life and Speeches— Mailory 

2 vols. 4 50 

This great American statesman commands the admiration, and Ida 
character and deeds solicit the study of every patriot. 

Life & Services of General Scott— Mansfield i 76 

The hero of the Mexican war, who was for many year-s the most promi- 
nent figure in American military circles, should not be forgotten in the 
whirl of more recent events than those by which he signalled himsell 
Dlnstrated. 



Garibaldi's Autobiography i 60 

The Italian patriot's record of his own life, translated and edited by bis 
friend and admirer. A thrilling narrative of a romantic career. With 
portrait. 

Lives of the Signers— D wight . . . . . . l 50 

The memory of the noble men who declared our country free at the 
peril of their own "lives, fortunes, and sacred honor," should be em- 
balmed in every American's heart. 

Life of Sir Joshua Reynolds— Cunningham i 50 

A candid, truthful, and appreciative memoir of the great painter, with 
a compilation of his discourses. The volume is a text-book for artists, as 
well as those who would acquire the rudimenis of art. "Vyith a portrait. 

Prison Life 75 

Interesting biographies of celebrated priKners and martyrs, designed 
ejq>eciiilly for the instruction and cultivation of youth. 



JVatio?ial School Ijibrary^ 

I -r ■ g 

LIBRARY or NATURAL SCIENCE. 
The Treasury of Knowledge Ii 23 

A cyclopsedia of ten thousand common things, embraciag the widest 
range of subject-matter. Illustrated. 

Ganot's Popular Physics i 75 

The elements of natural philosophy for both student and the general 
reader. The original work is celebrated for the magnificent character of 
its illustrations, all of which are literally reproduced here. 

Principles of Chemistry— Porter 2 00 

A work which commends itself to tne amateur in science by its extreme 
simplicity, and careful avoidance of unnecessary detail. Illustrated. 

Class-Book of Botany— Wood ...... 3 50 

Indispensable as a work of reference. Illustrated. 

The Laws of Health— Jarvis i 6S 

This is not an abstract anatomy, but all its teachings are directed to the 
best methods of preserving health, as inculcated by an intelligent know- 
ledge of the structure and needs of the human body. Illustrated. 

Vegetable & Animal Physiology— Hamilton i 25 

An exhaustive analysis of the conditions of life in all animate nature. 
Illustrated. 

Elements of Zoology— Chambers 1 50 

A complete view of the animal kingdom as a porLion of external satare. 
Illustrated. 

Astronography— Willard ^00 

The elements of astronomy in a compact and readable form. IHus- 
trated. 

Elements of Geology— Page ...... 1 25 

The subject presented in its two aspects of interesting and important 
Illustrated. 

Lectures on Natural History— Chadbourne 75 

The subject is here ccnsidered in its relations to intellect, taste, health, 
and religion. ^ 

00 



JVatlonal School Zibi^ary. 



LIBRARY OF TRAVEL. 
Life in the Sandwich Islands— Cheever • .$i 50 

The " heart of the Pacific, as it was and is," shows most vividly the 
contrast between the depth of degradation and barbarism, and the light 
■ and liberty of civilization, S9 rapidly realized in these islands under the 
h»inanizmg influence of the Christian religion. Illustrated. 

The Republic of Liberia— Stockwell, . . . i 25 

This volume treats of the geography, climate, soil, and productions 
of this interesting country en the coast of Africa, with a History of 
its early settlement. Our colored citizens especially, from whom the 
founders of the new State went forth, should read Mr. Stockwell's 
account of it. It is so arranged as to be available for a School Reader, 
and in colored schools is peculiarly appropriate as an instrument of 
education for the young. Liberia is likely to bear an important part 
in the future of their race. 

Ancient Monasteries of the East— Curzon . 1 50 

The exploration of these ancient seats of learning has thrown much 
light upon the researches of the historian, the philologist, and the theo- 
logian, as well as the general student of antiquity. Illustrated. 

Discoveries in Babylon & Nineveh— Lay ard 1 75 

Valuable alike for the information imparted with regard to the'se most 
interesting ruins, and the pleasant adventures and observations of the 
author in regions that to most men seem like Fairyland. Illustrated. 

A Run Through Europe— Benedict, • • • • 2 00 

A work replete with instruction and interest. 

St. Petersburgh— Jermann ....... 1 00 

Americans are less familiar with the history and social customs of the 
Russian people than those of any other modem civilized nation. Oppor- 
tunities such as this book aflfords are not, therefore, to be neglected. 

The Polar Regions— Osborn 1 25 

A thrilling and intensely interesting narrative of one of the famous ex- 
peditions in search of Sir John Franklin — unsuccessful in its main object, 
but adding many facts to the repertoire of science. 

Thirteen Months in the Confederate Army 75 

The author, a northern man conscripted into the Confederate service, 
and rising from the ranks by soldierly conduct to positions of responsi- 
bility, had remarkable opportunities for the acquisition of facts respect- 
ing the conduct of the Southern armies, and the policy and deeds of their 
leaders. He participated in many engagements, and his book is one of 
tiie most exciting narratives of adventure ever published. Mr. Steven- 
Bon takes no eround as a partizan, but views the whole subject as with the 
eye of a neutral— only interested in suoserviug the ends of history by tho 
eoutributiou of impartial facts. Illnstratcd. 

66 



JVationat School Zibrary* 



LIBKARY OF REFERENCE. 
Home Cyclopaedia of Literature & Fine Arts $3 oo 

A complete index to all terms employed in belles lettres, philosophy, theology, 
law, mythology, painting, music, sculpture, architecture, and all kinged arts. 

The Rhyming Dictionary— Walker .... i 25 

A serviceable manual to composers, being a complete index of allowable rhymes. 

The Topical Lexicon- Williams i 75 

The useful terms of the English language classified by subjects and arranged ac- 
cording to their affinities of meaning, with etymologies, definitions and iSustra- 
tions. A very entertaining and instructive work. 

Mathematical Dictionary— Davies & Peck . 5 oo 

A thorough compendium of the science, with illustrations and definitions. 

RELIGIOUS LIBRARY. 
The Service of Song— Stacy $i 50 

A treatise on Singing, in public and private devotion. Its history, office, and 
importance considered. 

True Success in Life— Palmer ^i 50 

Earnest words for the young who are just about to meet the responsibilities and 
temptations of mature life. 

"Remember Me"— Palmer i so 

Preparation for the Holy Communion. 

Chrysostom, or the Mouth of Gold— Johnson i oo 

An entertaining dramatic sketch, by Rev. Edwin Johnson, illustrating the life 
and times of St. Chrysostom. 

The Memorial Pulpit— Robinson. ^ vols., each i 50 

A series of wide-awake sermons by the popular pastor of the Memorial Presby- 
terian Charch, New York. 

Rp' Worship— Budinglon ..... 60 

^xix argument in favor of alternate Scripture reading by Pastor and Congregation. 

Lady Willoughby 1 00 

The diary of a wife and mother. An historical romance of the seventeenth cen- 
tury. At once beautiful and pathetic, entertainihg and instructive. 

Favorite Hymns Restored— Gage 1 35 

Most of the standard hymns have undergone modification or abridgment by com* 
pilers, but this voltane contains them exactly as written by the authors. 

Po3ts' Gift of Consolation l 50 

A beautiful selection of poems referring to the death of children. 

57 

■ \ 



JVational School Ijibrary, 



VALUABLE LIBRARY BOOKS. 
The Political Manual— Mansfield $i 35 

Every American youth Bhould be familiar with the principles of the government 
under which he lives, especially as the policy of this country will one day oall upon 
him to participate in it, at least to the extent of his ballot. . 

American Institutions— De Tocqueville . . i 50 
Demoeracy in America— De Tocqueville . . 2 50 

The views of this distinguished foreigner on the genius of our political institu- 
tions are of unquestionable value, as proceeding from a standpoint whence we sel- 
dom have an opportunity to hear. 

Constitutions of the United States .... 2 25 

Contains the Constitution of the General Government, and of the several State 
Governments, the Declaration of Independence, and other important documents 
relating to American history. Indispensable as a work of reference. 

Public Economy of the United States ... 2 25 

A full discussion of the relations of the United States with other nations, espe- 
cially the feasibility of a free-trade policy. 

Grecian and Roman Mythology— Dwight . 3 00 

The presentation, in a systematic form, of the Fables of Antiquity, aflFords most 
entertaining reading, and is valuable to all as an index to the mythological allusions 
so frequent in literature, as well as to students of the classics who would peruse in- 
telligently the classical authors. Illustrated. 

General View of the Fine Arts— Huntington 1 75 

The preparation of this work was suggested by the interested inquiries of a 
group of young people conpeming the productions and styles of the great masters 
of art, whose names only were familiar. This statement is sufficient index of its 
character. 

The Poets of Connecticut— Everest .... 1 75 

With the biographical sketches, this volume forms a complete history of the 
poetical literature of the State. 

The Son of a Genius— Hofland ..... 75 

A juvenile classic which never wears out, and finds many interested readers in 
eveiy generation of youth. 

Sunny Hours of Childhood To 

Interesting and moral stories for children. 

Morals for the Young— Willard 75 

A series of moral stories, by one of the most experienced of American educators. 
Illustrated. 

Improvement of the Mind— Isaac Watts • • 50 

A classical standard. No young person should grow up without having perused 
it 

58 



Chu7*c?i 3fusic, ete* 



FUBLIO ^T^ORSHIF, 



Songs for the Sanctuary, 12 50 

By Ret. C. S. Robinsok. 1344 Hymop, with Tunes. The most successful modern 
hymn and tune-book, for congregational s-inging. More than 200,000 copies have 
heen sold. Separate editions for Presbyterian, Congregational, and Baptist 
Churches. Editions without Tunes, $1.75; in large type, $2.50. Abridged edition 
(" Songs for Christian Worship "), 859 Hymns, with Tunes, %i.m. Chapel edition, 
607 Hymns, with Tunes, $1.49. i -»' i- , 

International Singing Annual, 25 

Metrical Tune Book, l 00 

To be used with any hymn-book. By Philip Phillips. 

Baptist Praise Book, 2 50 

By Rbt. Dbs. Fuller, Lett, Phelps, Fish, Armitage, Winkleb, Evakts, Lor- 
IMEK and Manly, and J. P. Holbrook, Esq. 1311 Hymns, with Tunes, Edition 
without Tunes, $1.75, Chapel edition, 550 Hymns, with Tunes, $1.25. 

Plymouth Collection, 2 50 

(Congregational.) By Rev. Henry Ward Beechbb. 1374 Hymns, with Tunes. 
Separate edition for Baptist Churches. Editions without Tunes, $1.25 and $1.75. 

Hymns of the Church, 2 75 

(Undenominational.) By Rev. Dbs. Thompson. Vermilye, and Eddy. 1007 
Hymns, with Tunes. The use of this book is required in all congregations of the 
Reformed Church in America. Edition without Tunes, $1.75. Chapel edition 
("Hymns of Prayer and Praise "), 320 Hymns, with Tunes, 75 cts. 

Episcopal Common Praise, 2 75 

The Service set to appropriate Music, with Tunes for all the Hymns in the Book 
of Common Prayer. 

Hymnal, with Tunes, 1 25 

(Episcopal.) By Hall & Whiteley. The new Hymnal, set to Music. Edition 
With Chants, $1.50. Edition of Hymns only (" Companion" Hymnal), 60 cts. 

Quartet and Chorus Choir, • 3 oo 

By J. P. HoLBEOOK. Containing Music #or the Unadapted Hymns in Songs for 
the Sanctuary. 

Christian Melodies. ByGKO.B.CHEEVER. Hymns and Tunes. 1 00 

Mount ZiOn Collection. ByT. E. Pbrkins. For the choir. 1 25 

Selah. By Thos. Hastings. For the Choir. ....... 1 25 

Public Worship (Partly Kesponsive) .... $1 00 

Containing complete services (not Episcopal) for five Sabbaths ; for use in schools, 
public institutions, summer resorts, churches without a settled, pastor; in short, 
wherever Christians desire to worship— no clergyman being present. 

The Union Prayer Book, 2 50 

A Manual for Public and Private Worship. With those features which are ob- 
jectionable to other denominations of Christians than Episcopal eliminated or 
modified. Contains a Service for Sunday Schools and Family Prayers. 

The Psalter, ....... 16mo, 60 cts.; 8vo, 90 

Selections from the Psalms, for reBponsive reading. 

59 



School F'urjiiture. 



FURNITURE 



(SUPPLIED BY THE NATIONAL SCHOOL FURNITURE CO.) 

PEARD'S PATENT FOLDING DESK AND SETTEE. 

This great improvement for the school-room has come already into such astonish- 
ing demand as to tax the utmost resources of the company's iwo factories to sup- 
ply it. By a simple movement the desk-lid is folded away over the back of the 
settee attached in front, making a false back, and at once converting the school- 
room into a lecture or assembly-room. When the seat also is folded, the whole 
occupies only ten inches of space, leaving room for gymnastic exercises, marching, 
etc., or for the janitor to clean the room effectively. 

NATIONAL STUDY DESK AND SETTEE. 

When not in use for writing, the desk-lid slides back vertically into a chamber, 
leaving la front an " easel," with clamps, upon which the student places his book 
and studies in an erect posture. As a folding-desk this offers many of the samo 
advantages as the " Peard." 



THE GEM DESK AND SETTEE. 

Fixed top, and folding seat. This is the neatest pattern of the Standard School 
Desk, and the strongest in use. 

THE ECONOMIC DESK AND SETTEE. 

This is the cJieapest good desk, with stationary lid and folding Beat 
All descriptions of 

HIGH SCHOOL DESKS, SCHOOL SETTEES, 

TEACHERS' DESKS, CHURCH SETTEES, 

BLACKBOARDS, PEW ENDS, 

CHAIRS, LECTERNS, Etc. 

Abo, 

CLASS AND LECTURE CHAIR. 

The difHculty of reconciling furniture appropriate for the Lecture-room or 
Church with that convenient for the Sunday-school is an old one. This article 
effectually remedies it. It consists simply of a plan by which chairs of a somewhat 
peculiar shape are connected with a coupling. The rows of chairs thus adjusted 
may at pleasure and with ease be spread out straight In one line, forming pews or 
benckes ; or they may be bent in an instant into a semi-circular form to accomo- 
date classes of any size to receive instruction from teachers seated in their midst. 

For further particulars, consult catalogues of the National School Furnitura Oo. 
and ttie Taylor Patent Cbau: Co., whioh may be obtained of A. S. Barnes & Co. 

60 



The Peabody Correspondence, 

New York, April 29, 1867. 
To THE Board of Trustees or the Peabodt Educational Fund : 

Gentlemen— Having been for many years intimately connected with the educa- 
tional interests of the South, we are desirous of expressing our appreciation of the 
noble charity which you represent. The Peabody Fund, to encourage and aid 
common schools in these war-desolated States, cannot fail of accomplishing a great 
and good work, the beneficent results of which, as they will be exhibited in the 
future, not only of the stricken population of the South, but of the nation at large, 
seem almost incalculable. 

It is probable that the use of meritorious text-books will prove a most effective 
agency toward the thorough accomplishment of Mr. Peabody's benevolent design. 
As we publish many which are considered such, we have selected from our list 
some of the most valuable, and ask the privilege of placing them in your hands for 
gratuitous distribution in connection with the fund of which you have charge, 
among the teachers and in the schools of the destitute South. 

Observing that the training of teachers (through the agency of Normal Schools 
and otherwise) is to be a prominent feature of your undertaking, we offer you for 
this purpose 5,000 volumes of the " Teachers' Library,"— a series of professional 
works designed for the efficient self- education of those who are in their turn to 
teach others— as follows : — 

500 Page's Theory and Practice of Teach- 250 Bates' Method of Teachers' Institutes 
^^ ing. 250 De Tocqueville's American Instit'ns 

500 Welches Manual of Object-Lessons. 250 Dwight's Higher Christian Educat'n. 
500 Davies] Outlines of Mathematical 250 History of Education. 

Science. 250 Mansfield on American Education. 

250 Holbrook's Normal Methods of 250 Mayhew on Universal Education. 

Teaching. 250 Northend's Teachers' Assistant. 

250 Wells on Graded Schools, 250 Northend's Teacher and Parent. 

250 Jewell on School Government. 250 Root on School Amusements. 

250 Fowle's Teachers' Institute. 250 Stone's Teachers' Examiner. 

In addition to these we also ask that you will accept 25,000 volumes of school- 
books for intermediate classes, embracing — 
5,000 The National Second Reader. 5,000 Beers' Penmanship. 

5,000 Davies' Written Arithmetic. 500 First Book of Science. 

5,000 Monteith's Second Book in Geog- 500 Jarvis' Physiology and Health. 

raphy. 500 Peck's Ganot's Natural Philosophy. 

3,000 Monteith's United States History. 500 Smith & Martin's Book-keeping. 

Should your Board consent to undertake the distribution of these volumes, we 
shall hold ourselves in readiness to pack and ship the same in such quantities and 
to such points as you may designate. 

We further propose that, should you find it advisable to use a greater quantity of 
our i)ublications m the prosecution of your plans, we will donate, for the benefit 
of this cause, twenty-Jive per cent, of the usual wholesale price of the books needed. 

Hoping that our request will ireet with your approval, and that we may have 
the pleasure of contributing in this way to wants with which we deeply 83rmpa- 
thiza, we are, gentlemen, very respectftilly yours, A. S. BARNES & CO. 

Boston, May 7, 1867. 
Messrs. A. S. Barnes & Co., Pubushers, New York: 

Gentlemen- Your communication of the 29th ult., addressed to the Trustees of 
the Peabody Education Fund, has been handed to me by our general agent, the 
Rev. Dr. Sears. I shall take the greatest pleasure in laying it before the board at 
their earliest meeting. I am unwilling, however, to postpone its acknowledgment 
so long, and hasten to assure you of the high value which I place upon your gift. 
Five thousand volumes of your " Teachers' Library," and twenty-five thousand 
volumes of " School-books for intermediate classes," make up a most munificent 
contribution to the cause of Southern education in which we are engaged. Dr. 
Sears is well acquainted with the books you have so generously offered us, and 
unites with me in the highest appreciation of the gift. You will be glad to know, 
too, that your letter reached us in season to be communicated to Mr. Peabody, be- 
fore he embarked for England on the 1st inst., and that he expressed the greatest 
gratification and gratitude on hearing what you had offered- 

Believe me, gentlepien, with the highest respect and regard, your obliged and 
obedient servant, ROBT. C. WINTHROP, Chairman. 

61 

/ 



The JVational Series of Standard SehoolSooks, 



GENERAL INDEX TO 

A. S. Barnes & Co.'s Descriptive Catalogue. 



Acoustics 


... 


PAGE 
.... 28 

36 


Latin 


PAGE 

44 


Aesthetics 


Lexicons 

Library 

Literature 

Logic 


..9,17,50, 57 

49, 58 

...1,7,36, 52 
17 39 


Algebra 


.... 


.... 17 
.... 10 


Anatomy 




n 


Apparatus 

Arithmetic 


\ih 


.... 47 

, 18, 21 
.21, 32 

... 36 


Map-Drawing 


12, 26 


Astronomy 


Maps 


15 47 






Mathematics 


.... 17 21 


Belles Lbttbes 


Mechanics 


. ' S8 


Bible . . 




7 23 


Mental Philosophy. . .. 
Morals 


39 

39, 58 

48, 59 


Biography 




....' 51 


Book-keeping 




.... 27 


Botany 




30 




44, 58 


Calculus 


8 


, 17, 18 
..7, 47 
.... 60 


Natural History 

Natitral Philosophy. . . . 
Natural Science 


32,50,55 

28, 34 

27-35, 55 

17 . 


Cards (for Wall) 

Chairs 




Charts 7, 8 


,10 


,22, 47 
.... 30 


Chemical Apparatus 


Object Lessons 


30, 49 


Chemistry 




.30, 34 

.... 59 

.39, 58 

44 


Church Music 


... 


Optics ... 


28 


Civil Government 


Orthography. 


1,8 

22 


Classics . . 








.... 38 


Copy Books 




22 


Pens . 


22 






... 36 


Philosophy, Intellectual 39 

Do. Natural 28, 34 

Physiology 32 

Poetry ^ff, m. 


Depiners 




.. 8 


Desks 




.... 60 


Devotion 


... 


... 48 
...38 
8 


Political Econosty 


.36, 58 


Dialogues 


Political Science 


39, 58 




Prayer 

Primers 

Readers 

Records 

Rhetoric 

School Library . . . 


1-T 

46 ! 

33 1 

52-58 


Dictionaries 9, 


17, 


50, 57 
... 26 


Drawing 


Elocution 

English Grammar 


... 


..7,38 
.... 10 
.... 36 


Ethics 




... 39 


Etymology 




...8,9 

...18 


Settees 


60 




Slated Books — 

Spanish. 


17, 21 

.. : 40 






... 28 


, Famtliab Scibncb 




...:...:.:. 38 


\.'\ French.. 

' Furniture 


... 


... 40 
. 60 


Spellers 


1,8,' 9 1 


Surveying .... ... 


.:.:..:.... 17 1 






. 25 




9 


Games 


Tablets .... ... 




Geography 


'.'.'. 


.12, 14 

.28, 34 
.17, 18 
.40, 42 
.39, 58 
42, 44 
... 44 


7, 47 


r^-, GeOT/OOY 


Tactics 


....... 46 1 


«(?ilV Geometry 


Teachers' Library 

Teachers' Monthly .... 


49-51 I 


^^^^\:^ German 




A ! 


peculiar government 


40, 


Travel .... 


........ 56 


may at pk Grammar .V.V.".'.'.'.'.' 10Vi7 




17,18 


benckes; ol^tz^ "' ' 


Virgil \ 


^\ 


aate classes c "^ 

story 


.23, 


25,53 

... 39 
...63 


For further jellectual Philosophy. . 


8,9,22 1 


Written Spelling . . 

Zoology 


1,8, 9 1 




.10, 


17, »4 


..82 ! 



62 



1 l9/;3 



